SOCIAL SECURITY PLAN IN U.S.

Press, Volume LXXXIII, Issue 25082, 14 January 1947, Page 3

SOCIAL SECURITY PLAN IN U.S.

8,200,000 SOON TO DRAW BENEFITS

WASHINGTON, December 11. The Social Security Administration estimates that 8,200,000 wage and salary earners will have achieved permanent old age and survivors’ insurance protection at the end of this year. The minimum benefit is 10 dollars a month. This means that even though these workers drop out of jobs covered by the Social Security Act, they will have assurance that they will get payments upon reaching the age of 65, or that their survivors will get payments. The total includes about 4,800,000 charter members of the social security system who were covered by the programme when it was instituted on January 1, 1937. and have remained under it since. Another 1,800,000 are workers who have not completed the r required 10 years of covered employment, but whose age is such that they will be 65 before they could lose their insured status by leaving covered employment A third group includes 1,600,000 workers who are now 65 or older and have completed requirements for a ‘Sully insuyed” status. Permanent insurance means that no matter what happeris to a worker’s income or employment in the future, he will be assured of at least a minimum insurance for life. A report by Mr Arthur J. Altmeyer. Commissioner for Social Security, showed that a total of 43,000,000 workers will have some type of social security coverage by January 1, 1947, of who 710,000 will have retired and will be drawing benefits.