Quote:
Originally Posted by saden1
I am missing something here...if I am 63 and two years away from retirement can I opt-out and what does opting-out mean? What if I am 50 years old? What exactly are my choices? What will happen to the money I contributed in the past ~30 years? I mean that money is long gone and all the spiffy 20-30 year olds are putting their money in private accounts. Are we perhaps going to need to bail out people of a certain age?
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i addressed that in my last post. and firstdown explains it too, but basically the old timers keep their benefits and as less people are due government benefits, the SS tax burden goes away, solving 1 of the 2 insanely out of line tax burdens.
retirement planning and medical coverage aren't bad ideas, but they've been implemented poorly and managed terribly.