H.R. 82 - anyone watching this?

[cnelk]

If they worked a job that DIDN'T pay in and now they start getting SS what exactly is it?

you don’t get any SS if you never paid in.

 

[pods8 (Rugged Stitching)]

So you’re calling Social Security retirement welfare?

As a whole no, not sure how you could read what I wrote and come away with that.

I said it sounds like low wage earners get a boost in payout compared to what they've contributed (compared to the normal calculation). That boost in payment I would call retirement welfare, its paying low income folks extra money, it seems to fit the definition don't you think?

 

[pods8 (Rugged Stitching)]

I paid into SS for many years before I started my pension job.

Should I not get my full SS?

I think you should get the full amount based off your contributions without the boost they apply to "Ensure a minimum income for workers who spent their careers in low-paying jobs".

The issue here is you may be due $100 a month but the boost says everyone gets $1000 a month minimum to ensure they have a minimum income. But if you're getting $900+ in pension in addition to the $100 from SS why should you get an additional $900 from SS that is intended as a safety net for a demographic other than yourself? [All numbers are obviously just made up for illustrative purposes.]

 

[UpNorth89]

I think everyone should get out of social security what they paid in regardless if they have a pension or not. If you didn't pay into social security you deserve nothing from the program.

 

[The_Jim]

I just love that instead of trying to do something meaningful to fix social security, our "public servants" are going to take more out of it. Its unfortunately never going away, because its an entitlement - They'll probably have to move the max earnings age to 80 by the time I'm ready to draw

 

[pods8 (Rugged Stitching)]

I think everyone should get out of social security what they paid in regardless if they have a pension or not. If you didn't pay into social security you deserve nothing from the program.

It was always a social safety net program. Making the current work force pay in and paying out to everyone who reached the appropriate age just masked the true nature of it and its not going away. Anyone over an earning minimum will never get back a full share of what they contributed because some of it is diverted to the lower earners as an increased payout. Its been that from day 1.

 

[BFR]

I started paying into SS at 12 yrs old and continued until I was 40. At 40 I entered LE as a public employee. When I retired at 60 and started drawing SS at 62. My SS was reduced almost 50% because I had a State Pension. So for the last 15 years I have been penalized by Social Security even though I had paid into the system and was fully entitled to draw. This based solely on having other pension income.

 

[HvyBeams]

I started paying into SS at 12 yrs old and continued until I was 40. At 40 I entered LE as a public employee. When I retired at 60 and started drawing SS at 62. My SS was reduced almost 50% because I had a State Pension. So for the last 15 years I have been penalized by Social Security even though I had paid into the system and was fully entitled to draw. This based solely on having other pension income.

The bill passed and was signed by Biden.

 

[BFR]

The bill passed and was signed by Biden.

Sure did, now those of us who’ve been affected will get a year of retro reimbursement. Not near what we lost but better than a kick in the .