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Republicans Are More Confident About Retirement Than Democrats and Independents

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The example of the retired school teacher, Mrs.Quan brings out another huge problem for all California educators that retire from the State Teachers Retirement System. Even if teachers retire with Social Security benefits, the Government Pension Offset and Windfall Elimination Provision are two provisions of federal law that reduce the amount of Social Security benefits, spousal benefits, or survivor benefits a person can receive if he/she is also receiving a public pension.
This inequity not only potentially hurts Mrs.Quan but greatly impacts the recruitment of new teachers at a time of qualified teacher shortages. FOR EXAMPLE: A person works for 15 years as an accountant and contributes to social security. That person then goes into teaching and works for 15 years, contributing to the State Teachers' Retirement System. When that person retires from teaching, after a total of 30 years of work, he or she loses all social security benefits for which he or she had paid for 15 years! And if the person's spouse was a social security payer and predeceased our teacher, any social security spousal benefit which the teacher would have been entitled to ends when the teacher retires!
Depressing when you consider the we are using the federal bail billions to bail out of the same jerks whose greed that caused much of our current financial fiasco.

Bob of CA 7:37PM October 25, 2008

It is no secret that the social security fund has been systematically robbed by members of both parties in congress with the approval of presidents of both parties for years.
So, insstead of growing with even just minimum interest, it has become perilous for the future because what was "borrowed" was not replaced with or without minimum interest.
It is a government guaranteed promise to all that have participated and played by the rules. It is the government that has not.
People can have all kinds of savings and/or investment accounts they please. But that should not take away from nor replace the government guaranteed program that the government has mismanaged.
The "borrowers" should bring spending on all sorts of things including prolonged wars of choice long after the tyrants regime has been overthrown and bring spending under control instead of forfeiting on their promise to the people that contributed and played by the rules.

HillbillyBill of TN 7:27AM October 23, 2008