U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 06-25-2009, 03:40 PM
 
Location: Laguna Beach, California
98 posts, read 350,745 times
Reputation: 79

Advertisements

I would love to hear from anyone who has worked for a state, county, city agency that has not paid into Social Security, and has very little retirement that will come in.

I retired at 55 to take care of my Mom, and now I am having to live on $1250. a month. I don't have enough units maxed out on my Social Security, so unless I do this, I will not receive any S.S. at all. If I max out the units, I will receive some, but am subject to the Windfall Act, which penalizes you for not paying into S.S. Therefore, I am told I will receive half or less of the amount I would get from S.S. because of this.

One good thing is that I have paid in enough to receive Medicare, when I am old enough. I now pay $500. a month for insurance through Cal Pers retirement.

I am looking at leaving Calif. because if anything happens to my Mom, I can not afford to live here. I have to find a place that I can afford. I need to buy something now, and get moved out of state, so that I won't become a bag lady.

I was so dumb when I was younger, and my father did not teach me to question things, he told me, get a job with the city, and you will be fine and have benefits. My dad said, get a job, and stay with it, do not change jobs. I did this, and am in a mess.

Anyone wanting to talk, I would love to hear from you. I did not realize that there are more "walking wounded" like me, here on this board! I could use some camaraderie from others
Reply With Quote Quick reply to this message

 
Old 06-25-2009, 06:28 PM
 
48,516 posts, read 83,943,432 times
Reputation: 18050
I know quite a few fireman that live here that they don't pay into social security. The police do. I know several who retired at 55 and loss every little income per month because the city pays the same amount into their retirement fund as they would to social security.
Reply With Quote Quick reply to this message
 
Old 06-25-2009, 08:19 PM
 
52 posts, read 144,018 times
Reputation: 36
Default Resources

IrishTiltedkIlt, If you have an idea where you want to move, I would be more than happy to look up resources, housing, etc. I, too, will be a walking wounded if I don't get my act together, so I can relate. Please remember, you are not alone.
Reply With Quote Quick reply to this message
 
Old 06-25-2009, 08:52 PM
 
48,516 posts, read 83,943,432 times
Reputation: 18050
If you don't pay into socail securityt aht came about when the sate;counties and city had a vote along time ago to join or not when the federal courts rules they couldn't be made to. But regardless most of those retirement plans pay more than most retire plus social security.Your plan must be really crummy run to put you in that shape with enough years to retire.If I had put all the money intop the retirement plan that i put into SS ;I get alot more than social security. Not thinking about retirement is a common error with many people;but its really our responsibilty.
Reply With Quote Quick reply to this message
 
Old 06-26-2009, 06:20 AM
 
Location: Forests of Maine
30,684 posts, read 49,455,573 times
Reputation: 19134
I have a Federal pension of $1400/month.

It does depend a lot on where you retire to.

A low-cost area with low-taxes, and it is enough to support a family.

Many or our neighbors here are raising children while both adults work part-time minimum wage jobs while raising teens and most are able to own their own homes.

Single income families pretty much require that one income to be full time to make it though.

With a depressed economy there are very few job that pay more than minimum. The economy here has been depressed for many decades. And has not been effected by the current market crash.
Reply With Quote Quick reply to this message
 
Old 06-26-2009, 09:14 AM
 
48,516 posts, read 83,943,432 times
Reputation: 18050
When you consider that 50% of the population pay no income tax now and 69% receive more benefits than they pay thing are going to change. The heath care program proposal means that more people are going to pay income tax as congress chaes pay for it by making benefits for example taxable income. We also will see other taxes such as cap and trade passed on as higher prices. What works today may not in the near future which makes planning very hard for everyone really.
Reply With Quote Quick reply to this message
 
Old 06-26-2009, 09:55 AM
 
Location: Forests of Maine
30,684 posts, read 49,455,573 times
Reputation: 19134
Quote:
Originally Posted by texdav
When you consider that 50% of the population pay no income tax now and 69% receive more benefits than they pay thing are going to change. ...
I thought that the percentage of non-payers has been running around 25% to 30% of us.
Reply With Quote Quick reply to this message
 
Old 06-26-2009, 10:00 AM
 
4,574 posts, read 7,060,700 times
Reputation: 4222
If you didn't pay into SS, didn't you pay into a 403(b) or whatever it is...and I thought city, state workers got a very high percentage of their pay as retirement?
Reply With Quote Quick reply to this message
 
Old 06-26-2009, 10:21 AM
 
Location: DC Area, for now
3,517 posts, read 12,052,621 times
Reputation: 2141
Quote:
Originally Posted by texdav View Post
When you consider that 50% of the population pay no income tax now and 69% receive more benefits than they pay thing are going to change. The heath care program proposal means that more people are going to pay income tax as congress chaes pay for it by making benefits for example taxable income. We also will see other taxes such as cap and trade passed on as higher prices. What works today may not in the near future which makes planning very hard for everyone really.
This seems to be quite an exaggeration. According to the Tax Foundation, the most recent hard numbers are from 2006 and 32% of tax returns resulted in no tax payment. The bulk of these were from low income singles and especially heads of households. And that is of tax filers not the total population of the US.
http://www.taxfoundation.org/research/show/1410.html
Reply With Quote Quick reply to this message
 
Old 06-26-2009, 10:50 AM
 
Location: Forests of Maine
30,684 posts, read 49,455,573 times
Reputation: 19134
Quote:
Originally Posted by Tesaje
This seems to be quite an exaggeration. According to the Tax Foundation, the most recent hard numbers are from 2006 and 32% of tax returns resulted in no tax payment. The bulk of these were from low income singles and especially heads of households. And that is of tax filers not the total population of the US.
Households with one working adult can easily fit in this, once you have children.

During my career a large part of my income was tax-exempt [due to my profession], having a Dw and children the deductions always kept us entirely tax-free.



Also consider retirees.

Now I have a pension, my Dw works part-time, and our children have all left. Our income is still such that with our deductions we do not pay income taxes.



Americans who do not pay income taxes are not only low income singles and heads of households; but also some professions, single income families, and retirees.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top