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Politics : Formerly About Advanced Micro Devices
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To: RetiredNow who wrote (214946)1/15/2005 11:14:33 AM
From: combjelly  Read Replies (1) of 1573927
 
"They themselves predict the system will be bankrupt in 2042."

No they don't. They do predict that the reserves will be gone. By law, they then have to cut back the benefits to match the cash inflow. Even at the worst cut, to 68%, the lowest amount paid out exceeds what the retiree in the lowest bracket gets now in 2005 dollars. It isn't a whole lot of money, but it is more than zero.
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