General Discussion

spooky3

(38,644 posts)

1. It is only PARTIALLY a pay as you go system. In 1983

Reply to PoindexterOglethorpe (Original post)

Wed Feb 19, 2025, 04:08 PM

Feb 2025

A trust fund was established in anticipation of the large number of baby boomer retirees. Employee and employer contribution rates were increased. So, if you have been working most years between 1983 and now, some of your contributions went for retirees, disabled persons’ and widows/widowers’ benefits (and administrative costs), but part went into the trust fund and earned interest for you to draw later.

See the SSA website for details.

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What you need to know about Social Security is that it is [View all] PoindexterOglethorpe Feb 2025 OP

It is only PARTIALLY a pay as you go system. In 1983 spooky3 Feb 2025 #1

Congress reserved the right to change SS as they saw fit Kaleva Feb 2025 #2

Congress can change any Progressive dog Feb 2025 #4

Which can't happen if we now live in a fascist dictatorship Kaleva Feb 2025 #5

Obviously Progressive dog Feb 2025 #6

I agree but others here don't. Kaleva Feb 2025 #7

So if you die before collecting you get your money and PoindexterOglethorpe Feb 2025 #8

No; it's a defined benefit plan, not a defined contribution plan. Nt spooky3 Feb 2025 #9

It is NOT a "defined benefit plan." It is social insurance. n/t valleyrogue Feb 2025 #11

It's both of those things. Go to the SSA website. spooky3 Feb 2025 #16

It's not your money. Mariana Feb 2025 #13

Yeah. In something like ten years Progressive dog Feb 2025 #3

For fifty years now people have been saying PoindexterOglethorpe Feb 2025 #10

Exactly DeepWinter Feb 2025 #15

Actually, the date of about 2030 Progressive dog Feb 2025 #17

I'm not the one falsely telling PoindexterOglethorpe Feb 2025 #18

It ain't "going broke." valleyrogue Feb 2025 #12

Ty nt XanaDUer2 Feb 2025 #14