Changes listed for Social Security in 1981
Columbia Basin Herald, July 29, 1964 Readers ask about the quality of photos in the Bits & Pieces column every year or so. Sometimes the photos in the older newspapers are not the same quality at brand new photos. However, the photos used in this column are all a part of history. Enjoy.
Columbia Basin Herald, May 4, 1976
E-mail from Cheryl
Facts from the past gleaned from the Moses Lake Herald, Columbia Basin Herald and The Neppel Record by Cheryl (Driggs) Elkins:
From the CBH on Feb. 4, 1981:
Social Security changes listed
People receiving Social Security checks will be able to earn more in 1981 than in 1980 before any of their benefits are withheld.
Art Sotelo, Moses Lake Social Security representative, says anyone under 65 can earn $4,080 in 1981 before any ‘Social Security checks will be held back. The annual exempt amount in 1980 was $3,720, he said.
The annual exempt amount for people over 65 in 1981 is $5,500, up from $5,000 in 1980.
If a person’s earnings exceed the annual exempt amount, $1 is withheld for each $2 of earnings above the exempt amount, he said.
He said that way they can avoid receiving incorrect payments that might have to be repaid.
There is a special rule that applies to the year in which a person retires. In the year of retirement, people can receive checks for any month their earnings don’t exceed the monthly limit although the total earnings are above the annual exempt amount.
The 1981 monthly limit is $438 for people 65 or over and $340 for people under 65.