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J71,000 Pension Hike
In Raphk. County
To what extent will the boost in social security payments, recently voted by Congress benefit residents of Rappahannock County? | How much will retirement] checks in the local area average under the new schedule?! On the basis of the latest figures from the Social Security Administration, which show the number of local recipients and the amount they were receiving at the beginning of 1967, the new total will be approximately $71,000 greater per year than before. Across the board increases are provided for retired or disabled workers and their, dependents. Those who have1 been getting minimum benefits of $528 per year will now receive $660.
For couples, there will be an increase in the minimum from the current $798 to $990.
At the upper end of the scale for those whose monthly salaries averaged $550 or more during their late working years, the pension payment for an individual will rise from $2,016 to $2,279. For a retired couple, it will be from $3,024 to $3,419.
The size of the pension a retired worker receives is directly related to the amount he earned*over a period of years prior to retirement and in turn, to his contributions tc the pension fund. In Rappahannock County, according to the latest annual repdrt of the Social Security Administration payments to beneficiaries were at the average yearly rate of $628 per recipient. Beginning in March, when the # first checks reflecting the increase will arrive, the local average will be $710. For the community as a whole, the pension payments will amount to $618,000 a year as compared with the previous total of $547,000. Hand in hand with the bigger benefits goes an increase in costs. Those who have been paying social security taxes on earnings below $6,600 will be continued at the same rate for another year. Those earning between $6,600 and $7,800, however, will have to pay 4.4 percent on the amount over $6,600. Their employers will have to contribute a matching amount
Missionary Group To Hear Mrs. Cleverley
Mrs. Ida Thrump will be tostess to the Flint Hill Metho* list Missionary Society on Thursday night and Mrs. Mary Cleverly will be guest speaker. She will present an illus:rated slide lecture on Housing for the Elderly with emphasis on facilities for Metho lists.
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