Leader

Collapse

Announcement

Collapse
No announcement yet.

Has any police department been able to terminate Social Security Act section 218?

Collapse

300x250 Mobile

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Has any police department been able to terminate Social Security Act section 218?

    Has any police or fire department be able to terminate Social Security Act section 218?

  • #2
    Please elaborate.
    I am concerned for the security of our great Nation; not so much because of any threat from without, but because of the insidious forces working from within.

    Douglas MacArthur

    Comment


    • #3
      I'm not real sure what you're asking, but we're pension only and do not contribute to SSI. The only exceptions are former deputies who came to us a merger and who are still on their old pension plan.
      I miss you, Dave.
      http://www.odmp.org/officer/20669-of...david-s.-moore

      Comment


      • #4
        I think you are not getting responses because nobody understands what you are asking.

        Comment


        • #5
          i think he means like what that city in texas did.......they did not participate/opted out of Social Security back in the 70's, (i think)...turns out they contributed the same amount of what would be a SS contribution every paycheck into a different type of "retirement" account, but private, and when they retired they discovered they had WAYYYYYYYYYY more than what SS would have paid out. Shocking...private enterprise does better than fed
          of course, Im just assuming that whats he/she meant
          "I don't go on "I'maworthlesscumdumpster.com" and post negative **** about cum dumpsters."
          The Tick

          "Are you referring to the secret headquarters of a fictional crime fighter or penal complex slang for a-$$hole, anus or rectum?"
          sanitizer

          "and we all know you are a poser and a p*ssy.... "
          Bearcat357 to Dinner Portion/buck8/long relief

          Comment


          • #6
            Originally posted by crass cop View Post
            i think he means like what that city in texas did.......they did not participate/opted out of Social Security back in the 70's,
            Looks like this has to be at the state, not the local, level.

            Shocking...private enterprise does better than fed
            State pension plans aren't directly comparable to Social Security. Furthermore, many state pension systems are seriously underfunded.

            Comment


            • #7
              Originally posted by Seventy2002 View Post
              State pension plans aren't directly comparable to Social Security. Furthermore, many state pension systems are seriously underfunded.
              But some are not (like mine)
              Since some people need to be told by notes in crayon .......Don't PM me with without prior permission. If you can't discuss the situation in the open forum ----it must not be that important

              My new word for the day is FOCUS, when someone irritates you tell them to FOCUS

              Comment


              • #8
                And no matter what the extreme right politicians and their worshippers claim, CalPERS is not underfunded. It is earning something like an 18% return and has a great deal more money than it did before the crash.
                Government is not the solution to our problem; government is the problem. - Ronald Reagan

                I don't think It'll happen in the US because we don't trust our government. We are a country of skeptics, raised by skeptics, founded by skeptics. - Amaroq

                Comment


                • #9
                  So glad i worked in the real world for 27 years before going into this. Hopefully at some point ill be able to draw SS and retirement since ours here goes into the pension at 7% each check.

                  Comment


                  • #10
                    The cities of Biloxi, Ms and Slidell, La don't pay into SS
                    Geaux Tigers

                    Comment


                    • #11
                      Police and Fire department members of the Iowa Municipal Fire and Police Retirement System (MFPRS) do not pay into Social Security. This system is by law limited to state police/DCI/Fire Marshal, and municipalities with above 10,000 population

                      This is a separate retirement system than the VAST MAJORITY of officers in the state who pay into IPERS. The officers who pay into IPERS also pay into Social Security.
                      Since some people need to be told by notes in crayon .......Don't PM me with without prior permission. If you can't discuss the situation in the open forum ----it must not be that important

                      My new word for the day is FOCUS, when someone irritates you tell them to FOCUS

                      Comment


                      • #12
                        Originally posted by jdthor View Post
                        So glad i worked in the real world for 27 years before going into this. Hopefully at some point ill be able to draw SS and retirement since ours here goes into the pension at 7% each check.
                        You are still going to take a 40% hit because you will be drawing a .gov pension.

                        Comment


                        • #13
                          Originally posted by jdthor View Post
                          So glad i worked in the real world for 27 years before going into this. Hopefully at some point ill be able to draw SS and retirement since ours here goes into the pension at 7% each check.
                          But just imagine that IF you had been employed by your department for 27 years instead of working in the 'real world'. Chances are you would be very close to retirement. You would probably be maxed out on your steps and pay scale so you could simply retire, collect your pension and go work another job and start banking SS for when you quit that job. Unless Law Enforcement was a huge decrease in pay for you, you should have been much better off with the pension than what your 401k/403b would have gotten you.

                          Comment


                          • #14
                            Originally posted by Iowa #1603 View Post
                            Police and Fire department members of the Iowa Municipal Fire and Police Retirement System (MFPRS) do not pay into Social Security. This system is by law limited to state police/DCI/Fire Marshal, and municipalities with above 10,000 population

                            This is a separate retirement system than the VAST MAJORITY of officers in the state who pay into IPERS. The officers who pay into IPERS also pay into Social Security.
                            You are better off that way... If you have the will-power to put the 5% you would be paying into Social Security into a Roth IRA or into a 547B plan you will be WAY ahead in the end.

                            As far as jobs before or after work and SSI... many people do not know this but it hits you hard in retirement when you are banking on that SSI money. If you have a .gov pension, they will take 40% of your SSI away from you as a penalty for having a .gov pension. It does not matter that you made the SSI payments before or after your LEO job.

                            Comment


                            • #15
                              We pay into SSI and can't get out. Considering I'll be retired for 17yrs before I can collect, I hope they change the windfall act.
                              Being a good street cop is like coming to work in a wet suit and peeing in your pants. It's a nice warm feeling, but you're the only one who knows anything has happened.

                              Comment

                              MR300x250 Tablet

                              Collapse

                              What's Going On

                              Collapse

                              There are currently 4593 users online. 304 members and 4289 guests.

                              Most users ever online was 26,947 at 07:36 PM on 12-29-2019.

                              Welcome Ad

                              Collapse
                              Working...
                              X