I dont pay into SS anymore. I am paid up and will get a whopping 700 bucks or so at 62 but I haven't paid into it in about 12 years.
It can be beat... If you have an equal plan, in my case, it is calPERS.... you are exempt from paying into SS ( I still have to pay medicare).
CalPers is the same cost as SS but it works like this.... you are paid 2.5% of your last highestr year for every year of employment at age 55. soo.. if you worked 20 years and retired at 55 you would have 50% of your income at 55 years old... it would be higher rate at older. It goes all the way up to like 112% or so...
Plus... it is based on inflation so it will grow 2% max a year (better than nothing).
CalPers is having a problem with having to much money tho and it is attracting the notice of democrats who feel that it is unfair and the suffering should be spread around... they (boxe finestein) have introduced bills from time to time to do things like force CalPers to "invest" in ghetto bussines and minority and low income housing. They want it to either make them look good or go down the toilet to prove that only the government can manage your money.
lazs
