Jump to content

PeteP

Members
  • Content Count

    4
  • Joined

  • Last visited

Community Reputation

0 Neutral
  1. How about this REAL LIFE scenerio: A person or persons form a company to bid on government contracts, then wins one or several contracts with the government. This person or persons have several people, maybe hundreds of people working for them who now pay into social security and the companies 401 K plan. This company bids on these government contracts everytime they come up for bid and win the contracts year after year for 20 or 30 years where people are now retiring from this company. One hundred percent of federal money (tax payers money) is paid by to this company whos employees enjoy a 401 K retirement plan and social security benefits. HERE IS THE IMPORTANT QUESTION: Why are these retired people not gettig a 67% cut in their social security payments? They are no different than federal employees, because the tax payers are paying 100% of this companies salaries which includes there 401K plan! PeteP
  2. Okay, lets take this apart. I retired in 1995 under CSRS after the unfair law went into affect in 1985. I beg to differ with you..... It is NOT double dipping. I paid into social security and my employers paid into social security. There was NO payment or payments paid in to social security on my behalf by tax payers...NONE. This is totally a seperate entity than a pension earned through CSRS. I retired in 1995 and should be receiving both full social security and an annutiy from my CSRS. Again, these are two seperate non-related entities. How you get double dipping is beyond me....it's NOT!!! I wrote my representatives in Washington, DC several times, but only recieved generalities in return....nothing specific relating to the subject matter. I did learn that there are a few senators and Representatives who think this law was totally unfair to people in my situation. I await your reply on the above. PeteP PeteP' post='22736' date='Oct 18 2008, 11:45 AM'] I worked several years in the private sector where I and my employers paid into social security. I paid in way beyond the required 40 quarters. I then joined the Fedreal Governemtn and retired from CSRS where I paid into a pension only. My question: What is the rational of the Federal Government cutting my social security 67% just because I retired from the Federal Service? I paid into both programs, and I feel that I am entitled to both, without a cut of 67% in my social securty. That is $600 a month taken away from me each month. Awaiting your response. PeteP When did you start working for the federal gov? All federal employees hired after 12/31/83 are covered by SS. Federal, state and local government employees who are exempt from SS are subject to the windfall elimination provision (WEP) of the Social Security Amendments Act of 1983 which reduces first tier SS benefits by up to 50% to prevent double dipping. The purpose is to prevent workers who have short term employment covered by SS and who also receive pension benefits from employment not covered by SS from receiving benefits intended for workers with low social security earnings over their entire work history. The WEP is phased out gradually for employees with more than 20 years of participation in SS and is eliminated at 30 years. There is separate reduction for SS benefits received by widows and widowers who collect a pension from employment not covered by Social Security known as the government penson offset. Social Security deducts 2/3rds of the government pension from the amount of any SS benefits due as a surviving spouse of a worker covered by SS. If you have a complaint write your congressperson who are well aware of this issue.
  3. I worked several years in the private sector where I and my employers paid into social security. I paid in way beyond the required 40 quarters. I then joined the Fedreal Governemtn and retired from CSRS where I paid into a pension only. My question: What is the rational of the Federal Government cutting my social security 67% just because I retired from the Federal Service? I paid into both programs, and I feel that I am entitled to both, without a cut of 67% in my social securty. That is $600 a month taken away from me each month. Awaiting your response. PeteP
  4. I want to know if I am in the right area to post and get a response on the Government Pension Offset PeteP
×
×
  • Create New...