Greenspan is one of the greatest free market economists of our time.
We need to not only "slash" SS benefits, but eliminate them entirely. This socialist coercive redistribution scheme extorts money from the young to bribe the seniors for votes.
There is nothing compassionate about putting hardworking Americans in jail for not supporting the stupid and the irresponsible.
SS, Medicare and other entitlements screw the real poor people: billions of them around the world, because they force governments in rich countries to protect themselves from immigration in order to avoid bankruptcy.
You are not really compassionate if you deny billions of extremely poor people any chance to help themselves , while doling out fat giveaways to a tiny minority of people whose net worth is in the hundreds of thousands of dollars?
Liberals and socialists kill and starve the real poor and attack those who create jobs. Only the lowest of scum can do such a thing.
Shbrom, that site that I went to was about both the Offset and Windfall Elimination Provision. I must have only read the second portion and so you are correct about the offset applying to spouses. My mistake.
Yes, that was me. My sister sent me to a sight that has the most recent offset law language and it appeared to be applied to the employee as well. I will see if I can find that again and post it for you.
As Shbrom pointed out and forced me look deeper. Congress was affected by that under their old system. The current pension plan they are covered by has them pay into the SS system, so they are eligible. For them, however, all the rules apply - 40 quarters of work, etc.
Yes, in the fine print is the exemption. When congress was covered under CSRS there was a windfall elimination provision, since CSRS was an alternative to SS. The provision made sure you didn't double dip into the government's coffers.
Well, you know how fond congress is of double dipping. They came up with FERS. Under FERS SS is withheld, so the retiring worker is eligible for full SS. Congress, of course, switched over to the new plan.
I think you may have posted that info earlier. Do I remember correctly or was it someone else? But the 2/3 offset rule that I have and summarized for perf (and it may not be the most recent edition) says it applies to ***spouses***. The other circumstance (to which you referred) was just a tax loophole that got closed. How can you argue against closing it? Your position was exactly correct, IMHO.
Shbrom, my sister comes under the offset rule, since she is a teacher in Texas. She does not pay into the SS system because the offset rule states that nobody who works for a government entity may receive two government pensions and SS is considered one. The loophole WAS that she could go to work for another school system as a janitor or cafeteria worker for just one day, pay into SS, and then draw at retirement. She is mad as a hornet because that got changed and Tom Delay blocked changing it back just recently. My question to her was if she had been putting the money she WOULD have been paying into SS all of these years into an IRA or similar vehicle. She acted offended. Of course not, she thought she would be getting SS!! I don't know how that affects those in congress.
You might be right, but here's the way it's supposed to work:
1. The offset you describe (as I read the rules) applies only to a ***spouse***, dvorced spouse, surviving spouse, or divorced surviving spouse receiving a public pension. [offset designed to ensure that spouses receiving pensions based on their own UNCOVERED earnings don't receive a greater pension+SS benefit than spouses who are receiving SS benefits based on their own and their spouses record.]
2.In that case, 2/3 of the government pension is offset from the SS benefit, reducing it even to zero, if that's the way it works out.
Now, the world of SS law is difficult and I may have misinterpreted the offset rule. Can you give a reference to the Act or the Rules that would help me better understand what you posted?