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Started By
Message
re: Social Security Fairness Act
Posted on 11/13/24 at 4:01 pm to KillTheGophers
Posted on 11/13/24 at 4:01 pm to KillTheGophers
quote:
I just don’t see it that way - you opted out to get a pension job.
Need to study the bill more - feels like this is not fair to the current system though.
Yes you do need to study it more because none of these people potentially affected "opted out" of anything.
They paid in to SS for at least 40 quarters (10 years) from a job that required them to pay SS. Then they got a different job (like working for the state) which has it's own retirement so they don't pay SS while at that job.
So if they held that job for 25 years and retired from their state job then they can only claim the retirement from the state and cannot collect SS even though they paid in their 40 quarters.
1
Posted on 11/13/24 at 4:02 pm to LouisianaLonghorn
quote:
Seems like the 3 million government workers shoulda known that their government pension would rule out any social security.
They did but why should you lose a partial benefit just because you paid into two pensions instead of one?
I hope this gets passed. If you have the qualifying time in both systems, you should get the benefits of both systems.
Posted on 11/13/24 at 4:03 pm to KillTheGophers
i did know the rules. If i were in about 42 other states it would not impact me but LA is a state that is impacted. I would be thrilled if they overturn it but I have no control over it. I doubt it comes up for a vote in the senate because Schumers people from his state are not impacted.
Posted on 11/13/24 at 4:04 pm to KillTheGophers
quote:
I just don’t see it that way - you opted out to get a pension job.
You are forced to switch pension, you do not have an option.
GPO is basically you take your SSN benefit, if it exceeds the other pension say LASERS or TRSL then you get a partial SSN benefit. But, if your other pension is larger than the SSN benefit you get nothing. So you pay into SSN for 20+ years then take a job in gov't and pay into that retirement system for 20 years. The SSN benefit will be less than the other pension, so you get nothing for your investment in SSN.
This post was edited on 11/13/24 at 4:06 pm
Posted on 11/13/24 at 4:06 pm to KillTheGophers
Back in the day we didn’t HAVE to pay in because we couldn’t receive it. Then I forget when but they changed it to we HAD to pay but still couldn’t receive the benefit. Can you see the problem clearer now?? It’s theft. Making people pay into something they can never receive back because we have a pension. Most people have pensions and yet still receive SS payments. No difference
Posted on 11/13/24 at 4:10 pm to FireawayLSU
quote:If that is the case, and if contributions were not transferred to a parallel track, benefits must be awarded IAW contribution
we HAD to pay but still couldn’t receive the benefit
This post was edited on 11/13/24 at 4:10 pm
Posted on 11/13/24 at 4:10 pm to RobbBobb
quote:In LA. if you work 30 years for the state you get 100% of your highest 3 year average salary for the remainder of your life. If you retire at 55 you'll collect for longer than you worked in some cases. Do you know who pays for that? Others who have government collecting money out of their check who will never see those dollars come back.
Good to know that you approve govt stealing money from your paycheck, then passing a law barring you from ever collecting it, when everyone else gets to file for their money at some point
Posted on 11/13/24 at 4:10 pm to KillTheGophers
The spouses of governmental employees are also affected by the penalty, even if the spouse never held a government job.
Posted on 11/13/24 at 4:11 pm to 4cubbies
quote:
They wouldn’t be eligible for a pension after only working for the government for a few years.
It takes 10 years to become vested.
Posted on 11/13/24 at 4:12 pm to KillTheGophers
So I worked 20 years paying into SS. Then I work 26 years as a first responder and paid into a pension system (I ain't getting a pension for free) but you think I'm not entitled to SSI benefits? My pension isn't that much but it offsets the low pay for fire/police. Most first responders work multiple jobs to make ends meet and pay SS on some of those jobs. If I pay in, I should get the benefits I deserve.
Posted on 11/13/24 at 4:13 pm to KajunLass
How would this work if you’re retired military?
Posted on 11/13/24 at 4:14 pm to KillTheGophers
The other part that people always leave out is that those government employees affected by this pay into the retirement fund.
For Louisiana state jobs its 7.5% of your gross salary if hired before 2006 and its 8% if hired after. So it isn't just free money, the workers are paying into it.
For Louisiana state jobs its 7.5% of your gross salary if hired before 2006 and its 8% if hired after. So it isn't just free money, the workers are paying into it.
Posted on 11/13/24 at 4:16 pm to Jake88
quote:
n LA. if you work 30 years for the state you get 100% of your highest 3 year average salary for the remainder of your life. If you retire at 55 you'll collect for longer than you worked in some cases. Do you know who pays for that? Others who have government collecting money out of their check who will never see those dollars come back.
Until you come a with a way that doesnt allow the Fed or La. to steal peoples money, and then never offer a way for them to be refunded, then they deserve to be treated like anyone else
My father worked worked while in HS, then in college. Worked a few years before he got a job in La. govt. Worked there until Buddy Roemer laid off a bunch of people. Then returned to govt service. Left again for several years. Returned to govt service until he retired. Then worked again until he died
And all those private employment years SS was allowed to steal from him, and never devised a way for him to get his money back
You gonna pay him back for that? Or just use his money to retire on?
Posted on 11/13/24 at 4:19 pm to Trapped in time
quote:
Also think it is absurd that Jeff bezos, bill gates, Warren buffet and Elon can get SS but not me because I have too much $$
Plus every member of Congress. I didn't "opt out" of the private sector. I was laid off and needed to feed my family. I became a first responder and now I've lost 20+ years of SS contributions. But Julio snuck across the Rio Grand and gets handed money.
Posted on 11/13/24 at 4:20 pm to RobbBobb
quote:I pay tens of thousands in taxes every year I'll never get back. This is nothing new.
Until you come a with a way that doesnt allow the Fed or La. to steal peoples money, and then never offer a way for them to be refunded, then they deserve to be treated like anyone else
quote:Those dollars were tossed in with my dollars for all sorts of stuff, not just social security.
Or just use his money to retire on?
Posted on 11/13/24 at 4:23 pm to KillTheGophers
How about we just rid of SS and move on.
Posted on 11/13/24 at 4:25 pm to Jake88
quote:
In LA. if you work 30 years for the state you get 100% of your highest 3 year average salary for the remainder of your life.
Well this is wrong. 30 years is 75% (You get 2.5% per service year).
Posted on 11/13/24 at 4:27 pm to KillTheGophers
I have a law enforcement pension. I paid social security every year in law enforcement on side jobs. Now I have 20 years in the private sector post retirement paying social security. So I have over 40 years paying social security, the last 20 at a higher rate. Under the current law they will penalize me 60% of the social security I receive because of my pension. If I paid the money and accrued the time why should I not get the full amount
Posted on 11/13/24 at 4:29 pm to Jake88
quote:
Those dollars were tossed in with my dollars for all sorts of stuff, not just social security
Someone doesnt know how SS works
quote:
There are two separate Social Security trust funds, the Old-Age Trust Fund pays retirement benefits
quote:
The Social Security trust fund holds money not needed in the current year to pay benefits and administrative costs and, by law, invest it in special Treasury bonds that are guaranteed by the U.S. Government.
quote:
All of Social Security’s payroll taxes are deposited in the trust funds, and all of Social Security’s benefits and administrative expenses are paid from the trust funds.
Your SS is NOT mixed with SSI funds. Never has been
Posted on 11/13/24 at 4:31 pm to BigBinBR
quote:Yep, my mistake.
Well this is wrong. 30 years is 75% (You get 2.5% per service year).
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