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Politics : Politics for Pros- moderated
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To: KLP who wrote (98521)2/3/2005 5:23:11 PM
From: Snowshoe  Read Replies (1) of 793684
 
>>I had thought EVERYONE working had to pay into the SS system.....WHAT other groups are exempt????<<

Some state governments, including mine, opted out of SS years ago. Furthermore I was able to roll over my (and my employer's) contributions and earnings into an IRA when I left! It was a BIG chunk of money, and I feel like the cat that ate the canary. Bush's modest proposal is quite limited compared to the deal I got. Of course now I have a lot more personal responsibility to manage my own retirement savings.

I'm still eligible for some SS retirement pay too, because I have sufficient quarters of SS earnings from before and after the state job. Not sure how much, but it should be at least enough to pay the Medicare premiums starting at age 65.
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