![]() |
Quote:
|
Quote:
I have a good friend,Mary, who never worked a day in her life. She receives SS from her ex-spouse. He married two more times. When George died all three wives received an increase in benefits, to George’s amount. Mary’s next relationship was with Bill. He was a retired teacher, and received his benefits through the State Teachers Retirement Plan. Although they weren’t married, Bill named Mary as beneficiary. Upon his death, she began receiving his full amount. I had a 33 year career as a teacher, and because of WEP/GPO I could not collect my deceased husbands SS. Mary never worked a day in her life, she collects two monthly checks, and her retirement income is more than double of mine. This is some of the inequality that the SS Fairness Act addresses. |
Are you sure you were fully vested in your retirement plan after 8 years? More than 10 was required for us.
|
Quote:
Those affected by WEP and GPO are not being "punished" at all, they are/were simply NOT being rewarded for avoiding SS taxes for half of their careers. They were not chosen simply because those jobs were in the public sector, public service and not for a profit-driven company. They were chosen because the DID NOT PAY SS taxes in those jobs. One of my jobs was in the public sector, public service and not for a profit-driven company. I still receive both a pension and (soon) SS retirement. This is the case because I DID PAY SS taxes in that job. |
EXAMPLE: Here is what happened to me. I worked in the private sector before working for the postal service. Once I turned 66, i began collecting my full social security benefits. Once I retired from the postal service I was told they would be cutting my social security benefits by 50%. Now with new bill that passed last week I will be collecting my full social security benefits finally after so many years of only getting half of what I actually earned through social security.
|
All the weirdness, esoteric rules, and insolvency could be eliminated if we could bear to admit that SS is not a retirement system, but just a ridiculously expensive and inefficient welfare program for the middle class. Over half of every other government program depends on taxes from the 1% of wealthiest Americans. But with SS, we normals get hit for 15% of our income for a ponzi scheme that, by law, excuses anyone making over $110K from paying into. Meanwhile SS has been forbidden from "investing" the surplus in anything other than T-bills for all our lives. All, so we can pretend it's a retirement program -- even though you can't even claim ownership of your own "retirement" funds!
Here's a little statistic for you. The annual deficit SS is running right now, halfway into the Boomers retirement, could be covered for the next HUNDRED YEARS by HALF of Mark Zuckerburg's personal wealth -- and he'd still be a BILLIONARE ONE HUNDRED TIMES OVER. Try to imagine how little of your wealth would have been required to deliver your SS check, if Zuck and every other wealthy individual in America had been contributing the same percentage you did! Or look at it another way. I started saving ANOTHER 15% of my income, the day I became eligible for "catch-up" contributions to my 401K. Even after losing half in the market during the housing bust, the income from my personal savings would be twice my SS check, if I actually tried to spend it all before I die. And I only had two years where my income exceeded the SS contribution limit. THAT'S how stupid Social Security is. I doubled the return on the same money in 1/3rd the time. I'm not against the government insuring that stupid people who refuse to save for retirement don't starve in their old age. And I'm certainly not advocating that anyone like me who had 15% of their lifetime income confiscated for a ponzi scheme not be repaid every cent they are owed -- even if they don't need it. But I cannot for the life of me understand why any retired American would not argue for a sane replacement for their kids, THAT EVERYBODY PAYS FOR. |
Quote:
.........My statements are proven by the generally known FACT that since 1970 each generation has been LESS SUCCESSFUL (and wealthy) than the prior generation. Today the US and Russia have one major thing in common.......OLIGARCHY ! |
Baloney!
Actually very rare for a military officer, regardless of rank at retirement, to transition into a civil service position in less than six months. In 26 years as a civil servant myself I personally know of this happening in fewer than five instances. I know of many who tried, but failed, to make such a switch. Those who were successful had knowledge, skills or abilities (KSAs) specific to the civil service position they were hired into.
I do know of many former military who applied for, and were selected for a civil service position in which their former military service was a consideration in their selection. As a supervisor, I filled several positions with people, male and female, who had had prior military service. They also had the education and private sector experience to make them the most qualified for the position I was filling. |
Quote:
|
Quote:
I think this practice is rampant in the D.C. area in agencies that are controlled by the military. I don't know about other Federal agencies. |
Quote:
|
Quote:
........Today, a US family needs the wife to work in order to JUST survive so they are having fewer and fewer children. So, what does US industry do to get more low paid workers ? And how does that differ from Australia and other countries? |
Quote:
|
Quote:
|
Quote:
|
Quote:
If you earn paychecks (since this is exclusively a payroll deduction) totaling $500,000 in a year, they'll only take 6.2% out of your paycheck up to the first $168,600. Your employer has to pay the same amount. Another 1.45% comes out for Medicare. NOTHING will come out for SS or Medicare for the other $331,400 that you earned that year. Granted, most people who earn that kind of money aren't getting it via paychecks. But some are. People earning $168,600 have deductions on 100% of those paychecks. Wealthy people do not. I think they should. I also think "early retirement" could be eliminated. Right now, the basic eligibility is 65, with 67 being the expected, and 62 considered "early" retirement. Get rid of that. Have social security benefits start at age 65 (unless you're disabled, that's another ball of wax). If you do that, then SOME folks will be paying in for 3 years longer than they otherwise would have. And that means more money available to spread around. So - remove the max income cap AND eliminate "early" retirement, and you'll be funding it just fine for a few more generations. |
Quote:
|
Quote:
|
Quote:
|
Quote:
|
Captain B
I worked as a firefighter fighting air plane fire, structure fire, NY TOWERS 1 AND 2 . I worked there for 44 years paying. I ALSO worked at a welding supply store for 34 years. I paid SS MY WELDING JOB . When I retired I was told I'm only getting 50 percent of what I was told collect BECAUSE I WAS A FIREFIGHTER. I got 753. I was penalized for firefighter ING. Do to this law congress put into effect. Now that the law is gone I get what I put 35 years into for SS.
|
Quote:
|
This is Social Media. People post on social media to interact with others. Yes. Calling SS will get you answers. Having a running conversation on Social Media will get you information that will allow you to ask many more questions than you would have thought of.
Quote:
|
I’m all for people getting what they deserve out of SS, but SS pays out billions that IMO shouldn’t. For example, we have friends that he worked for the railroad all his life and has a great pension which he deserves, but when his wife turned 65, she got a railroad pension too. Why did she get 1 when she didn’t work for the railroad and she had a very good job with a pension (non-government job). I heard this comes out of the SS pot. Check it out for yourself, the 1st paragraph gives you insight into this and this is on the SS website:
Research: An Overview of the Railroad Retirement Program I watched a few videos on this new fairness act, some state it’s good while others say it’s very bad. Check this out which goes over all the things that make this new bill terrible for the remaining 97% of SS recipients. This guy has stats that can drastically increase the benefits of part time SS payees into the system and also shows that this $190B cost will cause SS to reduce benefits starting in 2031 by 20% or in 2034 by 33%. So when you look at this new bill, you have to look at the whole pucture: Social Security "Fairness" Act is BS!! Former Insider REVEALS! | PLUS LIVE Q&A with Dr. Ed - YouTube |
Protectors of your freedom
Quote:
|
Missing in this entire thread was who avoided paying social security taxes. It wasn’t the employee’s decision. They don’t get asked if they want to pay the taxes or not. It was the employer. Those state governments that avoided paying the taxes.
I was hoping the legislation would end any exemptions and every employer is required to pay into the system. One can pretend that employees pay half, but the reality is that the employer pays all of the FICA taxes. |
Quote:
|
|
Quote:
Much of this is over my head but I have a good friend who was a firefighter for the City of Detroit. On occasion he was getting shot at because the people that started the fires didn’t want them put out! When he retired he trained himself as a Master Electrician and then worked for many years doing that and paying into Social Security. On top of that The City of Detroit went bankrupt and reduced his pension benefits. Why wouldn’t he be able to collect SS benefits for the second career during a different time period but he cannot. Would this new repeal allow him to now collect SS? |
Quote:
Not every service member get Va disability especially retired military. You have qualify and they usually reject majority. The big lie I was told for 20 years. Some know how to game the system. |
Quote:
|
Quote:
|
Insolvency
Quote:
|
Quote:
|
Quote:
I contributed fully FOR MY ENTIRE CAREER while they contributed fully for 1/2 their career. They are getting a pension for the time they did not pay into SS and partial SS in consideration that they only paid for 1/2 their career. Either: - The adjustment is fair so that those that paid only half their career do not receive twice the benefits of those that paid their entire career OR - I need to know who to talk to in order to get two SS checks - one for the first half of my career to match their pension and another for the second half of my career to match the SS they will now receive. |
WEP/GPO was only enacted in 15 states. Public employees in these states will now have the same federal benefits as the other 35 states.
Thats Fairness. |
Quote:
|
Quote:
|
Biden still hasn’t signed it yet. He has 10 non-Sunday days from the bill passage to sign it or it dies.
|
Quote:
|
All times are GMT -5. The time now is 11:43 PM. |
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2025, vBulletin Solutions Inc.
Search Engine Optimisation provided by
DragonByte SEO v2.0.32 (Pro) -
vBulletin Mods & Addons Copyright © 2025 DragonByte Technologies Ltd.