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Show I Farmers Now Under Social Security Laws Farm families will face less money problems in old age or in case of the breadwinner's death in the future than they have in the past. A. new law brings them under un-der the Federal old-age and survivors sur-vivors insurance, usually called Social So-cial Security. Starting on January 1, 1955, all farm operators and employees will contribute a small part of then-income then-income toward building" a fund that will make such payments possible: a farmer dies, leaving a wife and two children. If he has been averaging av-eraging $150 a month income, his family will get $120 a month. If a farmer who has been earning $250 a month reaches the age of 65 he and his wife will get $132.80 a month. Besides monthly payments for survivors, they will receive a lumpsum lump-sum death payment on an insured person ranging from $90 to $255. Farm workers are covered under un-der the new law if they earn as much as $100 from the same farmer far-mer in the same year. Farm operators op-erators earning $400 or more in a year are included. For employees, the employer contributes 2 percent of total wages paid and he withholds with-holds 2 percent of the worker's pay. This 4 per cent is sent to the Director of Internal Revenue. Amount paid by self-employed farmers is 3 percent, which he includes in-cludes in his income tax payment to the Director of Internal Revenue Rev-enue early in the spring. Since coverage doesn't start until 1955, such farmers will not pay into Social Security until early in 1956. Further information about new farm coverage under Social Security Sec-urity is available from the nearest near-est social security office. In Pro-vo Pro-vo the office is in the Ashton Building, 149 North 1st West. Social So-cial security cards, which are necessary nec-essary for all covered agricultural workers, are also available there. |