At long last...I'm living on EASY STREET....

[Don H]

Actually I have paid into SS over $8,000 (my contributions only, not employers) but that was in the 70's and 80's before my FD career. While working for the FD I paid into a private retirement plan and not into SS.

To be eligible for SS you have to work at least 40 quarters (3 months each) which I have done. The amount you receive is based on what you have earned in the recent past (10 years I think) and paid in to SS, which is zero for me since I only paid into the FD pension for the past 30 years, not SS.

Hope this explains it.

 

[QueBota]

Meaning you didn't have to contribute to SS? Sorry if that is a stupid question....

Federal government employess who worked and retired under the older CRS system did not pay Social Security out of their government paychecks. Newer employees, approx. 1988 and later do pay Social Security, from their paychecks. Much debate in the Fed. community over which plan was/is better. All I know is the folks that converted to FERS in the late 1980's almost unamimously regret their decision, often they were encouraged to convert by well meaning HR types.

Q