Quote:
Originally Posted by JohnnyD
With regards to SS tax, the teachers in my area pay into a separate fund with a rate that (if I remember correctly, probably am not though) equals the SS tax rate.
Concerning the town contracts, it is only a matter of time before towns realize firing everyone and subcontracting all of it to private entities is the best course of action.
Maywood, California Fires All Town Employees, Outsources Everything: An Act Of 'Municipal Genius'?
Mansfield for example has two full time public works employees that spend half their day watching soap operas and playing cards. I know because a kid I graduated with landed one of the jobs making good money, earning towards his pension, good beni's... great for him, terrible for the rest of us. It is absolutely insane. |
"With regards to SS tax, the teachers in my area pay into a separate fund with a rate that (if I remember correctly, probably am not though) equals the SS tax rate."
Do you know what kind of return they get on those contributions? I read that baby-boomers will ee about a 1.9% average annual return on what they paid into social security, which is a lousy rate of return. My generation will pay more and receive less, so there's no way I'll break even. That teacher fund you referred to probbaly returns teachers 35% a year, guaranteed.