Quote:
Originally Posted by kathyspear
Not everyone collects more than he or she put into the system (obviously).
My father passed away the day his first SS check came in the mail. My mother had to return it because he died on May 31st and the check was for the month of June. 
kathy |
When the system was set up the retirement age was 65 even though the vast majority did not live that long.
That allowed SS to build up a very large nest egg.
Not exactly fair to the people who paid in and didnt live to collect.
If someone in the private sector set up a system like that they would probably be doing 10 years in Leavenworth as they used to say.