Mulligan
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- May 3, 2009
- Messages
- 9,343
nun said:In MA state workers make 9% (or 11% if they earn over $35k) mandatory contributions to the state pension plan. MA kicks in 5%. Medicare tax is also taken out of the paycheck, but not SS tax, so MA state worked do not receive federal SS when they retire.
Same boat, I had between 11%-14% contributions which was matched by employer, no SS. But because I amassed 15 plus years working in PT SS jobs, I will get about $100 a month at 62 in 14 more years (the WEP gave it a helluva haircut). Current pension provides about 120% on my income needs as I have become a professional "saver" now in retirement.