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Old 03-20-2010, 10:28 AM
 
Location: Oxygen Ln. AZ
9,321 posts, read 16,582,586 times
Reputation: 5692

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Quote:
Originally Posted by Gandalara View Post
Oh, that's just ridiculous.
No kidding. I can't recall the republican party ever suggesting to women that they can't become architects, doctors or attorneys. Depending on what church you belong to, well that may be the case...but you listened to them?

I guess some can blame the democrats for taxing us to death all these years leaving us short.
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Old 03-20-2010, 12:20 PM
 
8,197 posts, read 11,915,499 times
Reputation: 17984
Quote:
Originally Posted by Gandalara View Post
Besides, couldn't social security be called an employer-based pension?
Quote:
Originally Posted by mathjak107 View Post
nope, we pay it thru our check... they pay some ,even up to 1/2 but its still something we pay into
I don't understand your point. For 31 years I paid 7% of my gross salary into the Civil Service Retirement Fund in order to receive a defined benefit pension from my employer.

I realize that Gandalara was being facetious in comparing SS to an employer-based pension, but your rebuttal doesn't seem to make sense to me.

On a related note, a small percentage of my pension will be tax-free each year because it represents the money that was previously taxed when I paid it into the pension fund out of my gross salary. Before Reagan, all of your money was returned upfront so pensions were tax-free for the first couple of years that you were retired. Now, it is returned to you based on actuarial tables so only about 3% - 4% is tax-free each year.
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Old 03-20-2010, 12:25 PM
 
71,588 posts, read 71,751,865 times
Reputation: 49194
well for 34 years i paid into the social security system out of my paycheck. i wouldnt exactley call that employer based. it may be government based but id hardly call the ss system employer based...

a defined benefit plan is employer based, social security is more a defined contribution plan,.....
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Old 03-20-2010, 01:06 PM
 
8,197 posts, read 11,915,499 times
Reputation: 17984
Quote:
Originally Posted by mathjak107 View Post
well for 34 years i paid into the social security system out of my paycheck. i wouldnt exactley call that employer based. it may be government based but id hardly call the ss system employer based...

a defined benefit plan is employer based, social security is more a defined contribution plan,.....
No, no, I absolutely agree with that. What I was taking issue with was your statement that appeared to indicate that if money was coming out of your check then you couldn't have an employer-based pension. Not all pensions are 100% funded by the employer.
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Old 03-20-2010, 01:45 PM
 
Location: Forests of Maine
30,682 posts, read 49,455,573 times
Reputation: 19134
Quote:
Originally Posted by TuborgP View Post
Many working people are not entitled to SS. I believe it is about 20% of public employees work for states or local government that don't participate in SS. They have that right and usually offer higher pensions instead. Not sure if a spouse is entitled to any of that pension in those states unless the husband selects a lower payout to vest his wife in the pension. I know with some states it is and isn't an option with a pension that also has SS contributions.
And there are some who have simply refused their SS insurance policies, canceled them and are running 'barefoot'.

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Old 03-20-2010, 05:05 PM
 
71,588 posts, read 71,751,865 times
Reputation: 49194
Quote:
Originally Posted by MadManofBethesda View Post
No, no, I absolutely agree with that. What I was taking issue with was your statement that appeared to indicate that if money was coming out of your check then you couldn't have an employer-based pension. Not all pensions are 100% funded by the employer.
my wifes is like that , you pay in and it converts to an annuity for retirement
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Old 03-20-2010, 05:51 PM
GLS
 
1,985 posts, read 4,847,602 times
Reputation: 2408
Quote:
Originally Posted by mathjak107 View Post
well for 34 years i paid into the social security system out of my paycheck. i wouldnt exactley call that employer based. it may be government based but id hardly call the ss system employer based...

a defined benefit plan is employer based, social security is more a defined contribution plan,.....
In the future, "employer based" and "government" may be interchangeable.
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Old 03-20-2010, 09:02 PM
 
Location: Orlando, Florida
43,858 posts, read 44,610,696 times
Reputation: 58626
Quote:
Originally Posted by GLS View Post
In the future, "employer based" and "government" may be interchangeable.
Not very comforting is it?
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Old 03-21-2010, 10:26 PM
 
48,516 posts, read 83,943,432 times
Reputation: 18050
Quote:
Originally Posted by GLS View Post
In the future, "employer based" and "government" may be interchangeable.
Social security is a trust fund;and one that would be illegal if a private one.
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Old 03-21-2010, 10:40 PM
 
48,516 posts, read 83,943,432 times
Reputation: 18050
Quote:
Originally Posted by Tesaje View Post
I agree with most of what janb said. The sooner we get our collective heads out of the sand and start building the infrastructure to move our energy needs to other clean sources and rely less on oil, the smoother the transition to becoming a second tier nation will be. It does look like that is where we are headed unless we do some serious changes.

I just got my propane bill - yikes! And I keep my house at 60, 55 when I'm gone or asleep.

That is not likely to happen anytime soon because it will take massive governamnt support. We are way too far in the hole to do it. Plus like many aternatives they will not be cheaper than oil which is why oil is still king. Have you any idea of the thousands of products produced from il beside gasoline? If they could produce as cheaper fuel they would.but they can't.Even how alternatives amount to less than 1% for any individual aternative. The cloest to 1% is wood. The individaul can go to solar or wind how if they can afford it.The cost is the problem.
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