IP: 65.34.119.97
Posted on February 8, 2009 at 10:10:31 PM by Scott Heims
The difference is the state retired folks paid into SS the entire time they worked for the state. Same at Pinellas SO. St Pete PD does the same. For whatever reason, and I wasn't there when our pension was created, we were exempt from paying into SS while working for TPD. The city really is the one who made out because they didn't have to pay our part of SS all those years. 1 3/4 percent of our pay, or whatever they contribute, is a lot less they they would of had to pay if we had social security as well.
When we were young and stupid, it sounded great NOT to have to pay into SS while working for TPD. Now that we're old and stupid, we see how ridiculous a decision that was.
The beauty of the state pension, is that most employers pay the entire contribution for the pension and the employee pays nothing, that's right nothing. So all they pay is SS and they get both.
St Pete PD officers pay into both, pension contributions and SS. But they reap the rewards at the other end where it counts.
Our pension has some great things such as 20 and out at any age, widow pensions and the 65% disability provision. Plus the usually low contribution rate. Other plans have their good points as well. If you started at Pinellas SO before 96, you're health insurance is provided when you retire. St Pete pays a small stipend towards health insurance, but it's something. Neither of these have the elusive 13th check privoso.
Why we're subject to the WEP is beyond me. I'm not that well versed in it. To be penalized for what we paid into SS at other jobs is ridiculous. Hopefully the FOP can change that. But don't worry, I've heard change is coming
Replies:
- Re(7): Social Security - By J J Oliva February 8, 2009 at 11:47:12 PM
Re(8): Go visit a local Social Security Rep. - By Jerry Wotherspoon February 9, 2009 at 02:02:12 AM
Re(9): Go visit a local Social Security Rep. - By arturo pedrero February 9, 2009 at 12:08:40 PM
Re(10): Go visit a local Social Security Rep. - By Jerry Wotherspoon February 9, 2009 at 04:46:20 PM
Re(11): Go visit a local Social Security Rep. - By Dennis Tea February 12, 2009 at 08:55:40 PM
social security - By william henley February 13, 2009 at 09:47:13 PM
No WEP prior to 1/86 - By Jerry Wotherspoon February 13, 2009 at 11:47:16 PM
Re(1): No WEP prior to 1/86 - By Jerry Feltman February 14, 2009 at 03:50:50 AM
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