Biden RAISES Social Security Payments On Way Out

[John Edgar Slow Horses]

No we are laughing at Marc thinking that this is some HUGE accomplishment. Tell mw what those folks have in common?..........Unions .it makes all of you look stupid. Just another giveaway.

Then we will have to march over your continuing nonsense.

 

[John Edgar Slow Horses]

I am amazed that the libs here cannot understand simple facts

He gave to people who paid in but did not get their fair share.

 

[John Edgar Slow Horses]

At different times

The workers were not being double billed but single paid

Now they are being single billed but double paid

Its fraud

You are unable to think clearly.

 

[Mac-7]

See post 126. The workers SS benefits are based only on time where SS taxes were taken.

Don’t you understand that basics of what the law is doing?

WW

You mean everyone who worked at the same time get the same payback?

Thats nonsense

Benefits are based on how much the worker paid in to SS

 

[JohnDB]

You mean everyone who worked at the same time get the same payback?

Thats nonsense

Benefits are based on how much the worker paid in to SS

Ok....but then they are reduced to the same level to a maximum of 1800/month. It doesn't matter how much you earned, how many decades you worked over the 10 years minimum required.
You get the same $$$$.

So if you worked 45 years paying SS taxes....you get nothing more than the guy who worked 10 years. (What most citizen Americans pay)

 

[WorldWatcher]

You mean everyone who worked at the same time get the same payback?

WTF? Of course not. Differnt people earn different amounts, therefore contributions are different. Meaning checks are different. However in this situation the checks (prior to the change) are different.

Let's say someone (Person "A") that worked in a SS covered job works 25 years and has an earned benefit of $1700.

The person that works 20 years in CalPers and gets a pension from a position that didn't pay into social security, then leaves California for a differnt job. If (s)he works 25 years in a SS covered job and earns the exact same amounts over the course of the same 25 year period as Person "A" wouild receive only $1500 because of the WEP penalty.

The Penalty that Congress removed restoring the benefit back to what it would have been. So Person "A" and Person "B" would now draw $1700.

Thats nonsense

What you states? Yes it was nonsense.

Benefits are based on how much the worker paid in to SS

Correct. So the person paid into SS for 25 years and had the benefit REDUCED becuase of the WEP penalty that was eliminated. They were NOT paid SS based on how much they paid in. There benefit was reduced by time spent in a non SS job.

WW

 

[WorldWatcher]

Ok....but then they are reduced to the same level to a maximum of 1800/month. It doesn't matter how much you earned, how many decades you worked over the 10 years minimum required.
You get the same $$$$.

So if you worked 45 years paying SS taxes....you get nothing more than the guy who worked 10 years. (What most citizen Americans pay)

Not quite.

You have to work 40 quarters (10 years) to qualify for benefits, but up to 35 years of Social Security earnings are included in the benefit calculation bsed on weighting factors established by law.

Time spent in non-Social Security covered jobs are not included in the 35 year lookback.

WW

Social Security Benefit Amounts

Cost of Living Adjustment

www.ssa.gov

 

[Mac-7]

Ok....but then they are reduced to the same level to a maximum of 1800/month. It doesn't matter how much you earned, how many decades you worked over the 10 years minimum required.
You get the same $$$$.

So if you worked 45 years paying SS taxes....you get nothing more than the guy who worked 10 years. (What most citizen Americans pay)

Why does it only apply to government workers ?

There are private pensions too but they get no special treatment

 

[WorldWatcher]

Why does it only apply to government workers ?

There are private pensions too but they get no special treatment

it doesn’t only apply to government workers.

It applies to anyone receiving a pension from an employer that doesn’t participate in Social security.

Therefore it would apply to non government workers that - for example - worked outside the US for a number of years and was receiving a pension who also worked for a SS covered employer for a minimum of 40 quarters.

WW

 

[Mac-7]

it doesn’t only apply to government workers.

It applies to anyone receiving a pension from an employer that doesn’t participate in Social security.

Therefore it would apply to non government workers that - for example - worked outside the US for a number of years and was receiving a pension who also worked for a SS covered employer for a minimum of 40 quarters.

WW

President Joe Biden on Sunday signed into law a measure that boosts Social Security payments for current and former public employees, affecting nearly 3 million people who receive pensions from their time as teachers, firefighters, police officers and in other public service jobs.

 

[WorldWatcher]

President Joe Biden on Sunday signed into law a measure that boosts Social Security payments for current and former public employees, affecting nearly 3 million people who receive pensions from their time as teachers, firefighters, police officers and in other public service jobs.

Try going to the program description on the SSA site or the referenced for you item colored text.

Read the first sentence in the source linked in your colored text.

People that earn pensions from employers outside the US where the employer does not pay SS. Those would be non US government workers who later (or earlier) worked in a SS covered job and qualified for SS.

WW

 

[JohnDB]

It also covers those who get a state funded pension....like Idaho state forest workers get Idaho pension or Georgia state school teachers who get Georgia state teacher's pension. Now they get SS too which was cut off or reduced from them before for having a state pension program.

So this "pay increase" is really a joke. It just allows those who earned a benefit to draw one and removes some lame excuses from the Government to not pay what they should have paid.

It still does nothing for those with 40 to 50 years of payments into SS. They get the same as those who have 10 years of payments into SS.

 

[WorldWatcher]

It also covers those who get a state funded pension....like Idaho state forest workers get Idaho pension or Georgia state school teachers who get Georgia state teacher's pension. Now they get SS too which was cut off or reduced from them before for having a state pension program.

Idaho - False. Idaho State employees are in a covered SS job. This law has no impact on them.

Georgia - False. Idaho State employees are in a covered SS job. This law has no impact on them.

So this "pay increase" is really a joke. It just allows those who earned a benefit to draw one and removes some lame excuses from the Government to not pay what they should have paid.

Reducing SS benefits based on pension earned while working in a non-social security job isn't a "lame excuse". It treating equal work and equal contributions the same.

It still does nothing for those with 40 to 50 years of payments into SS. They get the same as those who have 10 years of payments into SS.

This is false also.

10 years (40 quarters) is the minimum amount of time one must work in a SS covered job to recevie SS benefits in retirement.

Actual benefits are calculated based on 35 years of earnings under a weighted average formula. So if one person works exactly 10 years, their benefit is determined by that. If someone works 35 years their benefit is callcuated on those earnigs. Now if the 10 year person and the 35 year person had the exact same earnings for the last 10 years. the 35 year person would have a higher benefit because of the inclusion of the 25 years of earnings the 10 year person did not have.

WW

 

[Mac-7]

Try going to the program description on the SSA site or the referenced for you item colored text.



View attachment 1063684

Read the first sentence in the source linked in your colored text.

People that earn pensions from employers outside the US where the employer does not pay SS. Those would be non US government workers who later (or earlier) worked in a SS covered job and qualified for SS.

WW

I read it

The private pension did not pay SS taxes and neither did the worker

That means they do not deserve neing paid by SS

No money in should mean no money out

This new law is a windfall for the government workers

 

[WorldWatcher]

I read it

The private pension did not pay SS taxes and neither did the worker

Correct.

That means they do not deserve neing paid by SS

To qualify for social security they had to have worked 40 quarters in another SS covered job. They deserve an unreduced benefit base on THOSE quarters and earnings.

No money in should mean no money out

Which has nothing to do with this law. The employee worked in a SS job, and paid into SS to qualify for the benefit.

This new law is a windfall for the government workers

No, it's government workers (and others) not having an earned benefit REDUCED for time worked in another job that had nothing to do with SS.

WW

 

[Mac-7]

Correct.



To qualify for social security they had to have worked 40 quarters in another SS covered job. They deserve an unreduced benefit base on THOSE quarters and earnings.



Which has nothing to do with this law. The employee worked in a SS job, and paid into SS to qualify for the benefit.



No, it's government workers (and others) not having an earned benefit REDUCED for time worked in another job that had nothing to do with SS.

WW

The time they spend on another job that does not pay into SS should not count toward SS

Thats why I call this a windfall

 

[WorldWatcher]

The time they spend on another job that does not pay into SS should not count toward SS

Correct in part and incorrect in part.

Time spent in a non-SS covered job does not count toward SS.

However what was happening is the SS benefit from time worked in a SS job was being reduced for a job that had nothing to do with SS. The new law corrects this.

Thats why I call this a windfall

Getting the same benefit for the same time and earnings in a SS job is not a "windfall" it's removing a penalty that shouldn't have existed.

WW

 

[sealybobo]

He did it! Old man Sleep Joe ACTUALLY did it folks.

Now watch Trump take credit for it once the American people realize they got a raise.



Let the good times roll.

I sure hope all the savings Elon and Trump find are going to result in them filling up the social security lock box. Putting back the money both sides "borrowed" from the fund.

I heard yesterday that less than 5% of the military budget would fully fund social security.

If Elon and Trump cut the Department of Energy in half, eliminate the Department of Education, etc. Surely then they can fully fund social security for those of us who've been paying in.

AND, with all the extra money in the bucket, they can afford to change social security for future Americans. In the future, you are still forced to put 6% of your paycheck into Social Security, and the employer puts 6% in too, but when you die, that money is your families money. No more will people work all their lives till 61, drop dead and their family gets nothing.

Wouldn't this be a good idea?

What's going to piss me off in 8 years is if they cut my social security 20%. Then I will ask why they kept raising ss for seniors. If the program is in trouble, stop giving raises. Whatever you get, is all you are ever going to get. No cuts but no raises either. Starting NOW. But they won't do that because it won't be popular. That's why I hope the savings Elon is finding are going to fix social security and medicare.

 

[LordBrownTrout]

I sure hope all the savings Elon and Trump find are going to result in them filling up the social security lock box. Putting back the money both sides "borrowed" from the fund.

I heard yesterday that less than 5% of the military budget would fully fund social security.

If Elon and Trump cut the Department of Energy in half, eliminate the Department of Education, etc. Surely then they can fully fund social security for those of us who've been paying in.

AND, with all the extra money in the bucket, they can afford to change social security for future Americans. In the future, you are still forced to put 6% of your paycheck into Social Security, and the employer puts 6% in too, but when you die, that money is your families money. No more will people work all their lives till 61, drop dead and their family gets nothing.

Wouldn't this be a good idea?

What's going to piss me off in 8 years is if they cut my social security 20%. Then I will ask why they kept raising ss for seniors. If the program is in trouble, stop giving raises. Whatever you get, is all you are ever going to get. No cuts but no raises either. Starting NOW. But they won't do that because it won't be popular. That's why I hope the savings Elon is finding are going to fix social security and medicare.

It would be a great idea to pass on what you put into to your family but the govt won't allow that because it would cause the SS ponzi scheme to collapse.

 

[Lesh]

The time they spend on another job that does not pay into SS should not count toward SS

Thats why I call this a windfall

Christ you are stupid. If a worker spent 20 years in the public sector( and paying into SS) and then 20 years working for the government he should get retirement benefits for BOTH.

For instance. I get a pension for working in a union for 15 years.

I also get social security. Should my SS be reduced because I also have a pension?

Hell no.