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Re: Social security bill that passed
[Re: Cynical]
#4251688
12/25/24 09:44 AM
12/25/24 09:44 AM
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Joined: Dec 2005
Posts: 2,043
NW Florida
fireman176
8 point
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8 point
Joined: Dec 2005
Posts: 2,043
NW Florida
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My Fire Department opted out of paying into SS years ago, so we could fund our own pensions by having 11% taken out every payday, upon retirement, we received our pensions. What they didn’t consider was most firemen worked side jobs the entire time and paid into SS. What they penalized us for. Let’s say you paid into SS and should have earned $2500 a month, but because your main employer opted out of SS, they reduced your entitlement by up to 2/3. This is my current situation. I started work at FD at age 30 and had already paid all my quarters into SS to earn $2800, but they cut me to $800. I also owned my own law care business while working as a firefighter and paid my share plus the employers share into SS, and was told SORRY but that’s the WEP (windfall elimination program) rules. These are the rules that basically got reversed. If you didn’t pay SS, you wouldn’t get anything. You were making $80k+ per year on the side and paying into social security for 30 years? That’s strong. If you were paying in less than 30 years (like 10 years/40 quarter minimum), you had to be making even more income—substantially more actually. Again, that’s strong as moonshine for income if that’s what you were doing. I don’t see any other way you could earn $2800 per month in social security payments with the formulas social security is built on. I owned my own Lawncare business for 15 of those years. My first year made $120k and it went up from there. After I sold business, I worked as an EMT on the side and still made good $$$. I was raised to work and always had good work ethics.
Is it Hunting Season Yet?
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Re: Social security bill that passed
[Re: G/H]
#4251690
12/25/24 09:53 AM
12/25/24 09:53 AM
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Joined: Dec 2002
Posts: 12,663
Kennedy, al
globe
Booner
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Booner
Joined: Dec 2002
Posts: 12,663
Kennedy, al
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Same principle as if you keep working after you start drawing SS looks like. They hold additional income against you?
Never have like that. If a man wants to keep working God bless him and keep paying him.
Everything woke turns to shit
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