12-10-2016, 10:50 PM
(12-10-2016, 10:46 PM)bfine32 Wrote: A "pro-rated" amount. For instance it is top 30 years. If you've paid in 25 years calculate the remaining 5 as 0 and that is your entitlement. Paid in 20 then 10 years as 0, ect... all the way down to someone that has only paid in 1 year and has 29 as 0.
Generally correct, but I think it's actually the top 35 years with a minimum of 10 qualifying years.
I believe there's also a large number of public unions that have a pension and no SS...although there's a variety of double-dipping.
And funding of public pensions is not an entirely separate issue. I think there are a lot of ethical and moral questions on how much future generations should be financially responsible for unsustainable benefit promises or bad calculations they had no say in.
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