FUEGO said:Seriously? $11k a year for a 9 month position works out to about a quarter an hour more than minimum wage. If that is a 10 month position they are making less than the federal min wage. That stat is a little shocking.
Our TA's locally get over $11/hr with zero experience, increasing to $13/$15 for mid career and 30 yr veterans, respectively. After checking, our assistant lunch ladies are the least paid school staff at over $10/hr (and they get benefits).
This is in a non-unionized area that isn't particularly high cost of living.
I paid 8.5% of my earnings for 30 years into pension. No SSRipper1. I certainly can't retire after 20 years for anywhere near $44,000 a year. It would be more like 20,000. Keep in mind that includes some of my own money since I have been paying 6% of my earnings into the pension for 20 Years.
That's a lot of my money and its earnings. It's not all taxpayer money. Also I would like to know if the individual involved bought retirement credits to enhance his pension. They work like an annuity. Give the government a big pile of cash and collect a few hundred dollars more a month. Live long enough and it is a good deal. Die to early and your heirs will not be happy with your decision.
Yes, I would get SS but why not? I have paid into it like everybody else. Surely, I am not to be denied SS because I worked 1/2 my life for a public institution?!?!?!?!?
I don't know that the military is really a place where it could work well, especially not those who are deployed in combat-ready roles around the world.
I think we have to question the continued use of 20 as the "magic number", though, as well as the ability to start collecting at age 38. Many places start offering at least some pension vesting at 10 years and occasionally less, and as long as these are actuarially sound I have no problem with that. Maybe there should be more of a sliding scale, from (say) 10 to 40 years -- not just all or nothing at 20 (nothing for 19 years, full pension and lifetime health insurance at 20?). And most pensions don't allow starting the pension until age 55 or so -- maybe as early as 50, some as late at 60, but few allow being a pensioner at 38.
Also, depending what happens with health care reform in the future, that could make less military spending specifically on health care for military retirees which is necessary under the current (largely broken) health insurance model here.
In terms of any future cutbacks for military retirement, I'd hope at the very least decent people would agree that nothing should be taken from combat-disabled veterans, especially those too disabled to find work elsewhere. We certainly owe a lot to our veterans, and especially the vets and families who suffered casualties in combat or combat training. And nothing should change for those already in the service.
I paid 8.5% of my earnings for 30 years into pension. No SS
Who said you weren't. Employees that started after 1984 with City of Chicago started paying into Medicare. I started in 1981 so I am not eligible for Medicare or SS.I have always paid SS (and now medicare) whether in the private or public sector. I never made enough to get to the no-pay amount. So, yes, I do think I am justified in getting SS benefits.
I can't wait for them to align public sector IT job salaries with private sector! I will get a nice raise for sure! Throw in Boston area market pricing and that is icing on the cake!
Who said you weren't. Employees that started after 1984 with City of Chicago started paying into Medicare. I started in 1981 so I am not eligible for Medicare or SS.
Ripper, There are people who still believe that public employees do not pay into SS, then retire, work a few years at a private sector job that requires paying into SS, and then collect a HUGE SS payout based upon just a few years of work. I was pointing out that as a public sector worker I have always paid into SS. So I have earned my SS just like any other person.
ERD50 said:Well, it is true that some public employees do not pay into SS, and some then retire and work a few years at a private sector job that requires paying into SS (or work those years before the public job), and then collect a HUGE SS payout (HUGE in relative terms - SS pays relatively higher for those first years/$s).
In some cases there are adjustments for this effect.
-ERD50
True, but be prepared to work 12 days during the count down to ship. And weekends? Private sector programmers are like ERs- "What are weekends?"I can't wait for them to align public sector IT job salaries with private sector! I will get a nice raise for sure!
Most public employees do not pay into SS. They make contributions for their public pensions and if they somehow acquire 40 quarters outside their employment with a government job their is a couple things that knock down that SS to practically nothing. One is called GPO (Government Pension Offset) and WEP (Windfall Elimination Program). Look it up.Well, it is true that some public employees do not pay into SS, and some then retire and work a few years at a private sector job that requires paying into SS (or work those years before the public job), and then collect a HUGE SS payout (HUGE in relative terms - SS pays relatively higher for those first years/$s).
In some cases there are adjustments for this effect.
-ERD50
Well, if anything your SS benefit will pay for Medicare. Otherwise if your wife has 40 quarters of private employment you will go on her benefit.I guess unfortunately for me, your last sentence pertains to me. I have substantially more than 40 quarters in but WEP is whacking me to under $100 when I become eligible. I amused myself with the SS WEP calculator, projecting what I would get if I put 10 solid years of full time working to boost it up. The results werent worth the time I put in to figure out the benefit! Im probably the oddball on this, but I wish I had the opportunity to pay into SS during my working career. It would have been another leg for the old retirement stool.
ripper1 said:Well, if anything your SS benefit will pay for Medicare. Otherwise if your wife has 40 quarters of private employment you will go on her benefit.
ripper1 said:Well, if anything your SS benefit will pay for Medicare. Otherwise if your wife has 40 quarters of private employment you will go on her benefit.
Don't take this for gospel but if you paid into Medicare as a public employee than you should be good for it. Look into at socialsecurity.gov.I reread your post, I misunderstood. Even though I didnt pay into SS, I did pay into Medicare, so Im good there.
Most public employees do not pay into SS. They make contributions for their public pensions and if they somehow acquire 40 quarters outside their employment with a government job their is a couple things that knock down that SS to practically nothing. One is called GPO (Government Pension Offset) and WEP (Windfall Elimination Program). Look it up.
I think they are covered by Medicare but not SS. Employees that started after 1984 in Chicago started paying into Medicare but not SS. That being said if they had a government pension and somehow found outside work to be eligible for SS their benefit would be greatly reduced by GPO/WEP.Actually this isn't true. This GAO study from 2005 found that 75% of public employees are covered by SS and that number is decreasing fairly rapidly as older workers retire, and more states modify their pension plan. 7 state include CA, IL, and TX account for 71% of employees who aren't covered by SS. Among the 25% not covered I imagine a reasonable number are eligible for SS benefits due other worker or spousal benefits. In all 94% of all workers are covered by SS.
Well, if anything your SS benefit will pay for Medicare. Otherwise if your wife has 40 quarters of private employment you will go on her benefit.
My understanding is you can qualify on your spouse's benefit. The website at socialsecurity.gov is pretty informative.not always true. In the postal service you don't pay into SS but you also cannot claim on a spouse.
If a non working spouse reaches age 65 can they also get medicare for the low premium, or do they have to pay more if they didn't pay in? Does the spousal benefit work for medicare?
I think they are covered by Medicare but not SS. Employees that started after 1984 in Chicago started paying into Medicare but not SS. That being said if they had a government pension and somehow found outside work to be eligible for SS their benefit would be greatly reduced by GPO/WEP.
I stand corrected. It is in Illinois where 80% are not covered by SS. I can't speak to the rest of the country. But again if a public employee is eligible for SS, his or her benefit will be reduced by GPO (Government Pension Offset). Go to the social security website and look it up. Also being a retiree of the City of Chicago they started paying into Medicare after 1984 so those employees when they retire will be eligible for a Medicare benefit only at 65. Anyone that started before 1984 was not eligible to participate.Would you care to provide some evidence to back up your thinking or are you just spouting off stuff? Hint I read links from 3rd party sources.
As the GAO reports says it is 25% of public employee who don't pay SS taxes, but many of them receive SS benefits for other reasons. It doesn't make any discussion of Medicare. I get that in IL many worker aren't covered by SS, like many things regarding government IL is the exception not the rule. For instance the number of former governors serving prison sentences.
Well, it is true that some public employees do not pay into SS, and some then retire and work a few years at a private sector job that requires paying into SS (or work those years before the public job), and then collect a HUGE SS payout (HUGE in relative terms - SS pays relatively higher for those first years/$s).
In some cases there are adjustments for this effect.
-ERD50