Viewing page 3 of 17

This transcription has been completed. Contact us with corrections.

If your sixty-fifth birthday came in 1937 or 1938, your monthly benefits will be figured on your average monthly pay from the time the law went into effect on January 1, 1937, to the beginning of the quarter in which you qualify; do not add in, however, what you earned between your sixty-fifth birthday and the first of January 1939, and in counting the months to divide by leave out the time between the end of the quarter in which you were 65 and the first of January 1939.

Examples: Suppose you were 65 years old before January 1, 1937, when the law went into effect, and are still at work on a job went into effect, and are still at work on a job that is covered by the law. If you retire on January 1, 1941, the amount of your benefits will be figured on your average monthly pay since January 1, 1939. If your total pay from January 1, 1939, to January 1, 1941, is $2,880, divide that total by 24, the number of months in the 2 years. This should give you an average monthly wage of $120. Suppose however, that you were 65 in June 1937 and work until January 1942. To find your average monthly wage, add together your pay from January 1, 1937, up to the date you became 65 (in June 1937), and your pay from January 1, 1939, to January 1, 1942. There would be 6 months to count in 1937 and 36 months in the 3 years from 1939 to 1942, making 42 months in all. If your total pay in those 42 months in all. If your total pay in those 42 months was $2,520, your average monthly pay would be $2,520 divided by 42, or $60.

B——For Young People: To calculate your average monthly pay if you are a young worker who reached his twenty-second birthday after the law went into effect, add in all your wages the without regard to your age; but in counting the months to divide by, leave out any quarters before you were 22 in which you were paid less than $50. This, of course, will give you a slightly higher average monthly pay than if those quarters were counted.

Example: Suppose you were 18 years old on January 1, 1937, and went to work on a part-time job that paid only $3 a week, or $39 a quarter, 

[5]    16——12882