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Show r Your Social Security W No lump sum settlements Copley News Service count. Q. I will be 55 next month and I have been paying into Social Security since 1937. A statement I recently received from Baltimore tells me I have paid in over $100,000. Is there such as thing as getting a lump sum now? If not will I be able to collect benefits at 62 or 65? E.CJI. A. There is no lump sum settlement in lieu of retirement retire-ment benefits from Social Security. You will be eligible eligi-ble to file for monthly ben- efits as early as age 62. The amount shown on your statement represents the wages you have earned in employment covered by Social Security. The tax paid on those wages should be infinitely smaller. Q- In 1982, since I was over 65. I was allowed to earn $6,000 without loss of ny of my Social Security benefits. My employment in 1982 was not covered by Social Security. Do I have to count those wages toward the $6,000 limit? S.D. A. Yes! All wages, whether they come from covered or non-covered non-covered employment must be counted. Self-employment income also counts toward the $6,000 limit. All other types of income (dividends, (divi-dends, interest, etc.) do not Q. I am 62 years old. 1 would like to apply for W benefits. It has been recommended rec-ommended that I write to you. S.JJ A. The proper place to apply for your benefits is at your local Social Security Securi-ty office. You may call them to see if the matter can be handled over the phone. You will need pr of your age (birth or baptismal bap-tismal certificate, if available), avail-able), your 1981 and 1S W-2 forms and estimate ol your 1983 earnings if apph-cable. apph-cable. Q Why most we keep paying into Social Secrt when it is going broke. -T W.S. A. While Social Security is in financial trouble tten isnoindicaUonthatbwefl' payments will be curtail i Various methods of to ing future benefit J being proposed and cussed and legislation expected during this so sion of Congress- Those now recei ij benefits will contf J receive them and W will be benefits those becoming entitled the future. . Questions on Sod1 rurllvmsybe it. gene Williams. rurity Off'. r;clJj 8:727. Sun liego. i |