Amended Social Security Act
form ula is set up: 50 percen t of the
first$100 of the average m onthly wage,
plus 15 -pefpqrfFWKffiie n e x t $200>.bu£
w ith no increm ent — as in the past —
F ederal Social Security Act A m end l ^ ^ ^ ^ lfJ y b a i^ ^ ^ ^ S e ra g e : U nder th e
am ounts
m ents of 1950 in Brief. Title I, new form ula,
Am endm ents; to Title II of the Social in the n ex t 10 years w ill be about 110
percent higher th a n u n tk r th e old'law .
S ecurity Act, extends com pulsory cov
The m inim um p rim a ry benefit isjfojggl
erage under old-age and survivors in
(b u t as low as $20 for those w ith wages
surance to peg^âns wpose annfjal net
averaging less th a n $35 a month)-. ^The
income from self-em ploym ent is at
least $400, ^ ^ m U f a rm e r s and certain
m axim um family* b e n e fit is $150 (but
p ro f e ^ m a i^ ^ d u p s ’.f Q fher g^q^ ^ ^ rd-- not m ore^than 80 percent of th e ave-
rage m onthly w a g e ). The average
tected include regularly em ployed ag
m onthly wage is com puted as before,
ricu ltural w orkers and certain b o rd e r
except thh£) if the w orker has 6 ^ U a r-
line agricultural labor (such Ql pro -
ters of coverage afte r 1950 and a la r-
cessing w orkers), and regularly em
ployed domestic^ w orkers. “Em ployee” ger benefit w ould r e s u lt the average
is com puted over th ^ B ^ S f f i g o l l ^ ^ S a
is redefined to include certain groups
195O^ a j ^ B '^th an ^fro m 1936 on. The
earlier excluded. Coverage is extended
increases for>?S^fer'sqns^^ow ' o a
to the\V irgin Islands and P uerto Rico.
the
rolls
w ill be effective fo r S eptem
Coverage of State W orkers
ber L950; benefits based on |® \ n e w
Coverage through voluntary^ ^ ^ a
form ula w ill first be paid for A pril
m ents bep ^ o t j j th e States and thé
Federal^. G overnm ent I is) A vailable for- 1952. Persons coming on the rolls be
fore A pr il 1 95 2 w ill have" th e ir bhngWtg
employees of S tateyand logeai gW ern-
mentsAvho are hot rProtecfddqbM Ow^^ com puted un d er the old form ula; w ith
the increases provided for present
ing retirem en t plans, and ' -c^ ^ ^ a ge^ ^
I
b ^ B ^ fciau g ^ M
com pulsory for certain transportation
w orkers em ployed by State and local Fully Insured Status
governm ents. I Employees of nonprofit
A W©rkeWma^ a ; | tain f u lh S w r ^ S |
organizations m ay be S v e r e d if the
e m p l o y e r a n d at least tw o-
for only h alf the n u m b er of q u arters
thirds of all employées "concur; all eHB g ! H M l9 S S |'. Q u arters earn ed before
ployees c o n c u r r i n g and all new
1951 n fa y .b e ‘ebuntegffltoward^theWs ^
employees w ill th e n -Q y ^ ^ ^ d.
quirem ent. Thus, a person aged 65 or
Coverage changes )aré<Æffe^ ^ ^ J a n
over on J a n u a ry 1, 1950, w ill bQ*ftril^
u ary 1, 1951 (in P uerto Ried’ (a fter insured if he has at least 6 q u arte rs of
action by th e L eg islatu re).
coverage acquired at any time.' A
B enefit Changes
^ h e h e f ic in r y 'im ^ ^ a r f i^ ^ m uch as ,$50
a ,months in c^ ^ ^ W e m p lb 'y m e m a ^ .^ ^
Persons curren tly receiving benefits
out loss of benefits; a f te r I a g e I 75, he
w ill have th eir benefits in
nn
th e average by about 7 7 ^ percent. F or Will ^receive benefits regardless o f his
fu tu re beneficiaries H new benefit earnings. B enefits are pay ab le to the
E ditor’s Note: This is the final a r
ticle in the series on old age and
survivors insurance coverage. P a ra
graph two is of p articu lar interest.
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