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View Poll Results: At age 62, your payment would be about... (per person, see instructions)
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$0 a month
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6 |
3.95% |
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$1-250 a month
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3 |
1.97% |
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$251-500 a month
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3 |
1.97% |
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$501-750 a month
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6 |
3.95% |
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$751-1,000 a month
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11 |
7.24% |
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$1,001-1,250 a month
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18 |
11.84% |
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$1,251-1,500 a month
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38 |
25.00% |
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$1,501-1,750 a month
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43 |
28.29% |
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$1,751-2,000 a month
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14 |
9.21% |
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$2,001-2,250 a month
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5 |
3.29% |
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$2,251-2,500 a month
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2 |
1.32% |
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$2,501-2,750 a month
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3 |
1.97% |
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$2,751-3000 a month
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0 |
0% |
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>$3,000 a month
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0 |
0% |
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11-28-2009, 12:17 PM
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#21
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,698
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OK, let's start over now that we're all on the same page.
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11-28-2009, 12:18 PM
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#22
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Thinks s/he gets paid by the post
Join Date: Oct 2006
Location: North-Central Illinois
Posts: 3,228
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The SS estimate for me @ 62 is $1188/mo. I'll be happy if I get it, but not disappointed if I don't....it's just extra whipping cream on top of my pumpkin pie! 
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11-28-2009, 12:34 PM
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#23
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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 Quote:
Originally Posted by REWahoo
I suspect the poll reflects the results of a few folks who are denominator challenged...
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That was also my strong suspicion, as people often do not read the instructions closely. However, I couldn't rule out some "exceptions". One never could tell; the gummint often acts in mysterious ways. 
As someone has written, and I have to paraphrase from memory, "Hell hath no fury like a voter whose promise was broken". Particularly, if he had no pie to start out with. 
So, we may all have pie without cream on top. 
If you do not have a pie, one will be provided to you.  And if you already do, gee, what more do you want?
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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11-28-2009, 12:46 PM
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#24
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Thinks s/he gets paid by the post
Join Date: Jan 2006
Posts: 1,012
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Quote:
Originally Posted by samclem
Just as a reminder--the annual SS "what you will get" propaganda sheet assumes you will keep working until you start drawing an SS check. So, what is written on that form is not what an early retiree should expect to get.
But, I'll comply with the directions and answer with the number from my form.
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actually what it assumes is that your earning will continue in the future like your last year of record earnings i.e 2007. my "estimated taxable earnings per year after 2008" is "none" since i havent had any earned income since 2004
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11-28-2009, 01:35 PM
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#25
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Thinks s/he gets paid by the post
Join Date: Jul 2003
Location: Pasadena CA
Posts: 3,346
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Mine is and will be $0, I do have a Federal pension. DW was a school teacher and after 25 years she gets about $25K per year pension, her SS is estimated to be $232 a month which will be reduced about 50% because of her teacher's pension.
__________________
T.S. Eliot:
Old men ought to be explorers
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11-28-2009, 01:38 PM
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#26
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2008
Posts: 12,657
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I seem to be the first to have voted "zero." Neither my husband nor I qualify for SS, despite having paid into it at various jobs before being accepted into Federal government positions.
A.
__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success – to be able to spend your life in your own way.’ Christopher Morley.
Even a blind clock finds an acorn twice a day.
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11-28-2009, 02:04 PM
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#27
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 3,681
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I have a 22 year gap in my employment record so my benefit at 62 would be $477 according to my statement for 2008.
DH only has 36 credits so as of now he will get nothing from SS but he will get a public employees pension. Even if he does complete his credits his SS will be reduced by the WEP so I'd expect it to be very small.
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11-28-2009, 02:42 PM
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#28
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Recycles dryer sheets
Join Date: May 2007
Posts: 331
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My answer was "0". I have a government pension that offsets the need to pay me anything. I worked between ten and fifteen years and paid into SS.
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11-28-2009, 02:51 PM
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#29
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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Quote:
Originally Posted by Cruisinthru
My answer was "0". I have a government pension that offsets the need to pay me anything. I worked between ten and fifteen years and paid into SS.
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You paid SS taxes for 10-15 years and get *nothing* as a result of the WEP/GPO? If so, this is a case where that really needs to be reformed. It makes sense in many situations to reduce SS payments as a result of WEP/GPO but those who paid into it for a lot of years (but less than 20) really get screwed by it.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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11-28-2009, 02:58 PM
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#30
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Recycles dryer sheets
Join Date: May 2007
Posts: 331
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ziggy29,
You are preachin' to the choir. There is nothing fair about the system. I am just very lucky that I was smart enough to go for a government job with a great pension.
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11-28-2009, 03:15 PM
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#31
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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Quote:
Originally Posted by ziggy29
...this is a case where that really needs to be reformed...
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Quote:
Originally Posted by Cruisinthru
ziggy29,
You are preachin' to the choir. There is nothing fair about the system...
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No can do! Rightly or wrongly, if after reform someone gets more, then it means someone will get less and will be very upset.
SS is a form of welfare tax. People should, or rather have to, pay in, but should not expect a proportional pay-out. 
It is a tax which by itself may not be wrong or bad. I just wish it were "advertised" as such, and not as a true retirement fund like IRA, 401k, or what have you, that the individuals should be encouraged to put aside for themselves.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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11-28-2009, 03:18 PM
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#32
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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Quote:
Originally Posted by Cruisinthru
I am just very lucky that I was smart enough to go for a government job with a great pension.
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So which is it -- lucky or smart?
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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11-28-2009, 03:24 PM
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#33
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gone traveling
Join Date: Apr 2009
Location: Eastern PA
Posts: 3,851
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My DW/me will both turn 62 soon (me-Jan, she-May). Average (between both) is $1483.50 (right on top of the existing bell curve).
However, it really dosen't matter since our plan is for her to take her's in May at age 62, and I will delay mine till I turn 70 (current estimate is just under $3,100/mo, just for me).
Yes, I do believe (at our age) that it will still be there. Additionally, we will fight (via our congressman) that it continues for you "young folk" out there...
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11-28-2009, 03:30 PM
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#34
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Recycles dryer sheets
Join Date: May 2007
Posts: 331
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It was lucky and smart! Lucky to get that government job with the great pension and smart to hold onto it for enough years to build the pension. Retired at 55 with very few money worries.
Had I stayed with jobs that were in the SS system I would undoubtedly be still working.
You guys that are drawing SS can thank me for my contributions! That surely wouldn't hurt anyone.....
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11-28-2009, 03:36 PM
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#35
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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Quote:
Originally Posted by rescueme
...we will fight (via our congressman) that it continues for you "young folk" out there...
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It can only work if there will be even younger folks still to continue to pay into it. Higher birth rates? More open immigration? How do we swim against the demographic trend?
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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11-28-2009, 04:19 PM
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#36
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Recycles dryer sheets
Join Date: Sep 2007
Posts: 464
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$1,870 at 62 but probably won't work till 62.
mP
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11-28-2009, 04:44 PM
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#37
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Thinks s/he gets paid by the post
Join Date: Jul 2002
Posts: 1,587
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Hard to believe that one would get zero if they have the required 40 quarters of work in, even with a government pension. Haven't pulled up the calculator though. I've 29 years federal service but between part time jobs in high school, college, and 4 years military (1970s), I've got my 40 quarters and am eligible for SS at 62. Of course, with the Windfall provisions, I'd get something just short of $300 a month.
RE2Boys
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11-28-2009, 04:58 PM
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#38
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Thinks s/he gets paid by the post
Join Date: Jan 2006
Posts: 1,645
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1385 per month at 62
2009 at 67 (full retirement age for me)
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11-28-2009, 04:58 PM
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#39
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2006
Posts: 12,880
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Quote:
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However, it really dosen't matter since our plan is for her to take her's in May at age 62, and I will delay mine till I turn 70 (current estimate is just under $3,100/mo, just for me).
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You might consider taking it at 62, then, at age 70, paying back what you've gotten and start at the new amount. That way, if you die at age 68, you'll have received $100,000 more than if you had waited.
__________________
Al
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11-28-2009, 06:39 PM
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#40
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Thinks s/he gets paid by the post
Join Date: Jan 2006
Posts: 1,012
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Quote:
Originally Posted by Cruisinthru
My answer was "0". I have a government pension that offsets the need to pay me anything. I worked between ten and fifteen years and paid into SS.
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WEP only reduces your SS payment not eliminates it and GPO only affects you getting a spousal benefit so i think you are mistaken about getting nothing unless you didnt earn your 40 quarters
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