On Sun, 19 Feb 2012 20:27:02 -0500, Frank
wrote:

On 2/19/2012 7:23 PM, Oren wrote:
On Sun, 19 Feb 2012 18:36:11 -0500, Ed wrote:

On Sun, 19 Feb 2012 17:02:42 -0500, "
wrote:




In my case I paid 7.5% of pay into my pension. Paid no SS for 25
years, retired at 50. My SS will be based on the basic 40 QTR
contributions. I think I made out :-\

Yep. It's those who have put in the maximum for forty or fifty years who get
screwed.

And when you hit 65, you have to go on Medicare and pay premiums in
addition to the payroll deduction.

Now you have me curious. Does a person drop their private health care
insurance when they go on Medicare? ( something I need to check into )

Medicare only pays 80% and that other 20% at today's health care costs
can be a killer. You'll also need a supplemental for your meds. I have
both from former employer although he will not pay any cost increase and
drug plan is starting to suck to the point that next year it will be
cheaper to go to Walmart.

I find it (Kroger, actually) easier, anyway.

I was one that paid SS for 40 years. My return would have been double
had I put it into a 401k.

I've already paid the maximum for 37 of my 39 years, working, and plan on
another six, at least. Don't I wish I could have that in my 401(k).