[quote=Nor-LA-SD-GUY2][quote=CA renter][quote=Nor-LA-SD-GUY2]What OWS needs is a message!!
WHAT DO WE WANT !!
A BIGGER PICE OF THE PIE NOW !!
WHAT DO WE WANT !!
HIGHER WAGES NOW !!
WHAT DO WE WANT !!
A BETTER RETIREMENT PLAN NOW !!!
WHAT DO WE WANT !!
EVERYONE GETS A CALPERS ACCOUNT NOW !![/quote]
They already have one, and public employees with CalPERS don’t get it. It’s called “Social Security.”
Which brings up another point… If we get rid of the pension obligations for existing public employees (who usually pay more into their pension plans than SS beneficiaries pay into theirs), we’d need to get rid of the Social Security obligations for private sector employees, too. I’m sure all you “taxpayer advocates” would be on board with that. After all, fair is fair, right?[/quote]
If I could collect SS at 55 yes I would say they are even somewhat remotely similar plans but they are not.
OK let’s talk fair, California public employees can put in for and collect SS it seems fair that EVERY California resident should be able to apply and be part of CALPERS as well.[/quote]
No, public employees with these pension plans do not participate in Social Security. Even if they had private sector jobs and made SS contributions for the required quarters, their SS benefits are reduced if they get a govt pension.
“If you worked in a job not covered under Social Security; e.g., some federal, state, or local government employment, the pension you get based on that work may reduce your Social Security benefits. Your benefit can be reduced based on one of two provisions.
The first provision, called the Government Pension Offset (GPO), applies only if you receive a government pension and are eligible for Social Security benefits as a spouse or widow(er).
The second provision, called the Windfall Elimination Provision (WEP), affects how we calculate your Social Security retirement or disability benefits if you receive a pension from work not covered by Social Security. We modify the formula used to calculate your benefit amount, giving you a lower Social Security benefit.”
