Average Social Security Check (trust fund, smart, taxes, investments)
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Note: While in the District they are eligible for free medical services at military facilities.
QUOTE: In the Capital region only, they may receive free medical outpatient care at military facilities.
They get S.S. AND a pension as I stated. I get a teacher pension and my earned S.S. is reduced by about two thirds under WEP. Explain how that is fair?
Not quite correct - they get SS and pension if under FERS - they pay into SS under FERS and get 1% of pay unless they do over 20 years. They are only subject to WEP if under CSRS system - only a few would be under CSRS since would have to have over 38 years. They only get a pension if qualify, probably more than half never qualify for retirement.
Most employers pick up a large majority of healthcare costs, why should those in congress not get that benefit. Also previously they got FEHB for healthcare, where they paid 20% and had a pick of plans - that was likely a better deal.
Here is an example of what I could have included to avoid a "blanket statement" and cover every possibility. Most readers would have lost interest after the first paragraph of 8-10 pages of text, charts, graphs, etc.
It's pretty obvious you want to turn this into a pissing contest.
Not interested!
that was not the issue was it?
WEP isn't that hard as a concept. I mean, you understand it.
first you said it doesn't apply to congress but it does.
then you posted inaccurate or only partially accurate about healthcare and pensions for congress.
then you posted this: They get S.S. AND a pension as I stated. I get a teacher pension and my earned S.S. is reduced by about two thirds under WEP. Explain how that is fair?
when it was explained how that is fair, i.e they currently pay both SS and into a pension under FERS, you equate it to your situation which is not the same at all.
you keep trying to change the subject to hide your errors.
No. If I paid in every single year, they still deduct 2/3. It's called the Windfall Elimination Provision.
Perhaps you should Google it for a precise definition.
They add up all of my credits, then deduct 2/3 of the payout because I get a state pension. That does not happen to Federal employees. They get a pension and full S.S.
That is NOT correct - federal employees get a small pension and pay into SS under FERS (if started 1984 or later) - they get a large pension and are subject to WEP if they are under CSRS system (before 1983).
Perhaps YOU should google these before you post incorrect information.
To include every exception to every scenario discussed in this thread would require writing a book. For the sake of brevity, I addressed the most likely situation for government employees working today.
If you feel the need to wave around the old system to try and discredit my post, have at it.
BTW: Will WEP affect any Federal Employees hired in the past 30+ years?
No, it won't.
But that is what you seem to miss - the pension under the current Federal retirement system in the last 30+ years is pretty small and is designed for SS and TSP to make up the difference. Someone that worked 30 years would get 33% of base pay - without SS they would be getting very little to replace salary when working. So they get the pension and may have to wait for SS and then they are getting about 50% of pay. Under the CSRS system they would get 56.25% as soon as they retire but subject to WEP for SS.
All Railroad workers, most teachers, many states, many municipalities employees.
And anyone who does not have a SSN. It has never been made a legal requirement for anyone to apply for a policy. Outside of the contiguous United States it has never become popular to apply for a policy for US citizens at birth [Puerto Rico, Guam, US Virgin Islands, Mariana Islands, Samoa, Midway, Palmyra, Baker Island]. During my last tour of Active Duty at least a third of my subordinates were US citizens but were not born in US state.
Actually "most teachers, many municipalities employees" do indeed pay into Social Security. In only fifteen states are those occupations exempt from it. Overall about 75% of local/state government employees get Social Security and 60% of teachers (the two states that skew that number are California and Texas).
Actually "most teachers, many municipalities employees" do indeed pay into Social Security. In only fifteen states are those occupations exempt from it. Overall about 75% of local/state government employees get Social Security and 60% of teachers (the two states that skew that number are California and Texas).
In the 1990s I was assigned the task of helping a group of co-workers [US Servicemembers] to file the forms to revoke their S.S.A. policies. At that time, to help me to understand their reasoning I attended some of their meetings. I learned a lot. Back when FDR first fought to make SSA legal, they had to make a bunch of compromises and they allowed a lot of employers to simply opt-out. That list was what I recall as the list of employers who could opt-out if they wish.
If a railroad or municipality or state or Teachers union somewhere wants to continue to feed SSA then obviously they can.
Attending those meetings they very nearly convinced me to revoke my SSN.
But for anyone who revokes their SSN, should seriously pledge to contribute into some other form of investment vehicle.
In the 1990s I was assigned the task of helping a group of co-workers [US Servicemembers] to file the forms to revoke their S.S.A. policies. At that time, to help me to understand their reasoning I attended some of their meetings. I learned a lot. Back when FDR first fought to make SSA legal, they had to make a bunch of compromises and they allowed a lot of employers to simply opt-out. That list was what I recall as the list of employers who could opt-out if they wish.
If a railroad or municipality or state or Teachers union somewhere wants to continue to feed SSA then obviously they can.
Attending those meetings they very nearly convinced me to revoke my SSN.
But for anyone who revokes their SSN, should seriously pledge to contribute into some other form of investment vehicle.
I worked under Railroad Retirement for a few years. At some point those credits transferred to my Social Security account. I didn't have to do anything it was just my annual SS Statement of Earnings showed $0 for those years and then one year they showed up.
Not sure how many are aware but if you make a mistake, you can pay the money back and you start up where you were prior. IF we do this, we'd be ahead between 7-8 hundred at 7% gain ( per Dave Ramseys Investment Calculator)
Not sure how many are aware but if you make a mistake, you can pay the money back and you start up where you were prior. IF we do this, we'd be ahead between 7-8 hundred at 7% gain ( per Dave Ramseys Investment Calculator)
If you are taking about ss that can only be done before your first year ends
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