re: Social Security Fairness Act

quote:

---

Yeah this is bullshite.

I worked for nearly 20 years in the private sector before becoming a federal government employee, and have paid into SS the entire time.

Should I just forfeit the money I've put into the pot because I've got a pension plan that doesn't even come close to replicating what I've made my entire working life? Maybe if I could opt out of SS from here on out until I retire in about 25 years, but I've paid in since I was 13 years old.

---

If you are on FERS you are fine and not subject to GPO because you have been paying into SS. FERS is the three-legged stool, SS, TSP, small pension.

CSRS is the Fed retirement program that didn't pay into SS at all and those that retire on it are 100% on a pension and that definitely does effect spouses and widows.

FERS replaced CSRS back in 1987.

Likewise. My mom was a teacher. She did 20+ years in public schools, then another 20+ at a private school. Her SS is cut by her LA teacher's pension amount, and it's bullshite. She put in over 20 years at each job, and deserves every penny.

Anybody who pays into SS for 40 quarters, 10 years, is eligible. Or am i wrong?

quote:

---

Honestly, I thought this was common knowledge. There's a reason that defined benefits plans are pretty much extinct outside of unions and government.

---

Nah, more of a reason is because defined benefits plans are an ongoing liability and can be a drag on profits. They are a financial burden on the employer and carry risk, so the employer shifted that burden and that risk to the employee with defined contribution plans.

What's the definition of government in the act? Federal or State/County?

quote:

---

Wife A never worked - husband dies she collects husbands SS

Wife B is a state employee (my wife) she has a really good state pension - husband dies she doesn't collect my SS

---

This is my situation and my beef. If my wife did not work, or had a minimum qualifying SS job, she could collect from my SS. But, since she was a school teacher, she is penalized from receiving the same spousal SS benefit.

This is a pretty sizable hit to many spouses in the same situation, especially if the spouse is deceased and they no longer have that spouses SS income.

quote:

---

Here's a thought. Maybe, you should choose. You either get your pension or SS. But you can't have both.

---

No. Why induce a punishment to people who worked? They are not ripping anyone off, they earned it.

Here is a thought people are not considering. Eliminating these penalties could be a big positive for people to have second career options. This option would be great for the education system and kids futures because business professionals with real world experience could be enticed to move to education as a second career. Think about that!

Instead of govt jobs being stuck with govt employees from the start of their careers, it opens it all up because it can now be a retirement strategy.

quote:

---

No. Why induce a punishment to people who worked? They are not ripping anyone off, they earned it.

---

Because all these people think that people in gov't do not work. Having worked in both environments, I saw just as many lazy non-productive workers in the private sector. Both areas have them, if you pay into the system and get vested, you should get the benefit.

I am a manager with a municipal pension system. This will affect both myself and my wife. I was employed in a private sector career for 20 years before moving into a public sector (government) position. I'm in my 20th year with this government agency. This was a clear choice for me, but I did pay into SS for 20 years never knowing the circumstances that would lead me to the current employer I'm with. My wife (sorry, no pictures, we're old) was employed in the public sector and her employer's business was picked up by a state program. So, she became a state employee. She was with that agency for over 10 years before the Jindal administration privatized her employer group. She went right back to the public sector with a private company that picked up all of the accounts she was already working. She did qualify for a small government pension based on approximately 10.5 years of service. Because of the WEP and the GPO we will both take hits to our SS benefits as a retiree or as a surviving spouse when that happens one day for one of us. My problem is that if we had a pension with a private company we would have NO offset to our SS benefit. And, remember that we paid into both retirement systems when not paying into SS. My current contributions are 9.5% of what I earn and have been that way for almost 20 years. She paid in 7.5% of her earnings during her time with the state.

What others are missing is the employer portion. The employers, mine and hers (state) paid in also. But, we were compensated much much less in our wages to allow for a better retirement. Don't be fooled, the average public pensioner is NOT drawing a large benefit. Most are small to moderate. Those drawing a large benefit worked countless hours of overtime or were in a handful of really high paying positions. I don't have a problem with my SS benefit being based solely on what I paid in when I was paying in. Time, inflation, other criteria would naturally cause me and my wife to slide down the benefit scale for SS. But, to come back and take up to 2/3 or my SS benefit for no other reason than I have a pension from a government agency is theft. Either give me my full benefit I paid for or refund my contributions with interest. I could have invested them myself. I hope this helps explain things a little.