Social Security Payments 1

[msquared48]

A friend of mine works for a local utility. He told me in passing that his employer does not participate in Social Security.

I got to thinking about this, and it bothered me. I assume this means that as an employee...

1. you have to pick up their portion of the monthly payments in addition to your normal part, AND...

2. that you may not be able to use at least some unemployment benefits if laid off. This seems funny and less likely if you are paying into the system.

Anyone else seen this? It's a first for me.



Mike McCann
MMC Engineering
Motto: KISS
Motivation: Don't ask

 

[RacingAZ]

"If you work for Washington State, your pension is based on your last year or two income.

If you're a smart government employee and have political power, you convince the policy makers to double your salary a year before retirement because your pension will be doubled as well.

Hence, certain public officials in Washington State are getting huge pensions compared to the position they are in.

It ain't right. But it's politics."

And the taxpayers are the ones being hosed. There are a lot of schemes going on to inflate the last year's salary, not just in your State.

One is taking an early retirement (if being offered) for a lump sum payment and get that payment applied to his/her last year's salary to inflate the pension benefits calculations. Another is collecting as many vacation days as possible then cash them in prior to retiring for an instant salary boost.