Quote:
Originally Posted by tripods68
I totally agree with you. SS does forces people to join. However, they are jobs out there (i believe over 2 million+ aren't covered by Social Security). For example, California teachers with credentials and employed in any K12 public system, or Community Colleges don't pay into SS. They have their own pension system (CalSTRS) Teacher's Retirement, and define contribution account 403(b) to rely on for their retirements. Also, all Correctional Officers that works for California Department of Corrections do not pay into SS. They belong to Public Retirement System (CalPERS) which is the largest public pension in the US.
You will also find many local governmental agencies or city governments throughout California that pays employees 100% share to portions of their SS contributions. Unfortunately for me, my BU and classification ain't strong enough to eliminate SS contribution. But at least I have both CalPERS, ROTH, 457, and little Social Security if not BK when I reach that "critical mass".
Bottom line: Not all jobs forces everyone to participate into Social Security. You just have to look elsewhere and be willing to relocate. California isn't a bad place to look for jobs either.
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Tripod -- I've worked in the CalPERS system and while this seems true, it's also not. I've worked in technically two different counties within CalPERS.... one did deduct SSI from my salary and the second did not. So, I do not know if it's a consistent policy, but maybe eacy county determines whether or not to deduct SSI from wages earned?
When I look at the SS Statement rec'd recently, I can see "blank" SSI contributions on those years that I worked for the second public agency, but the first 8 years from the original public agency are not blank, and I know that the tax forms were done accordingly.
As for the original posters contentions/question, I would not "op out" either. My folks are in their late 70's and early 80's and use the basic SS to pay their bills and live. I am happy to contribute a portion of my current earnings to help support the elders that have worked before me.
JC what if your folks were not able to meet financial obligations of their "after retirement" years; what if something happened that were to devestate their retirement funds as a whole? Are you going to take care of them? What happens if you cannot do that either? Do they go out on the street?