General Discussion

madville

(7,479 posts)

41. This is filling in a gap

Sun Dec 22, 2024, 08:52 PM

Dec 22

People that paid into both social security and some exempt retirement plans over their careers were getting penalized for it due to a Reagan era law, this fixes that.

Federal employees (since 1981) and most state employees pay into both social security and their pension plans and get the full benefits from each. This is overturning a Reagan era law that penalized those in legacy pension plans that were also vested in social security, it’s not many these days, just a few million people.

Cannot edit, recommend, or reply in locked discussions

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

54 replies

= new reply since forum marked as read

Highlight:

This message was self-deleted by its author [View all] dalton99a Dec 21 OP

Mazel tov! Drum Dec 21 #1

And Musk is ready with his "DOGE" scissors question everything Dec 21 #2

Not happening. n/t valleyrogue Dec 21 #3

To see how many people will want to Luigi him dalton99a Dec 21 #8

I am so happy! This has affected me since I retired in 2017. A Brand New World Dec 21 #4

Very similar to me madville Dec 21 #16

It took over a decade, but it finally happened. valleyrogue Dec 21 #5

+1. It is a horrible injustice that keeps some retirees in abject poverty dalton99a Dec 21 #6

Yay!!! Great news!! I didn't know what the bill was. LeftInTX Dec 21 #7

Thank you to the Senate and to President Joseph Biden. sheshe2 Dec 21 #9

This kind of bipartisanship is the way it is supposed to be. That is the way it USED to be valleyrogue Dec 21 #10

I can't tell you how happy I am right now. sheshe2 Dec 21 #11

so, passed in both houses?" MadameButterfly Dec 21 #12

It is on Biden's desk dalton99a Dec 21 #14

Yes. It passed both houses overwhelmingly. President Biden will sign it. n/t valleyrogue Dec 21 #17

When does this go into effect? senseandsensibility Dec 21 #34

Retroactive to January 2024 dalton99a Dec 21 #36

Thanks! senseandsensibility Dec 22 #38

I suspect Social Security will issue an official statement with details after Biden signs the bill dalton99a Dec 22 #45

Why were some government employees exempted from SS in the first place ? MichMan Dec 21 #13

Our pension is better than SS madville Dec 21 #15

Rules for thee, but not for me. MichMan Dec 21 #18

It's not an "opt out" madville Dec 21 #19

Not Sure How It Got Started - I Paid 10% Each Check To Teacher Retirement System alcuno Dec 21 #35

Just getting what's owed to you madville Dec 22 #37

I don't think it's fair that some government jobs are exempted from SS while everyone else is required to contribute MichMan Dec 22 #40

This is filling in a gap madville Dec 22 #41

Why were any plans exempted in the first place ? MichMan Dec 22 #42

Powerful unions at the time madville Dec 22 #43

Got it MichMan Dec 22 #44

They earned those social security benefits madville Dec 22 #46

This message was self-deleted by its author senseandsensibility Dec 22 #39

But if you never worked a Public Government job, ALL you get is just SS. They used to call that Double Dipping. mackdaddy Dec 21 #20

Yes, I remember the frenzy about "double-dipping" pensioners back then RandomNumbers Dec 21 #21

Collecting a pension and getting Social Security is NOT "double dipping." That was a right-wing LIE peddled years ago. valleyrogue Dec 21 #22

Thanks for that background RandomNumbers Dec 21 #30

This was truly bipartisan legislation. valleyrogue Dec 21 #31

Completely untrue. valleyrogue Dec 21 #24

It was theft madville Dec 22 #47

You ARE saying that anyone who paid into SS shouldn't get the benefits they earned, although you probably don't mean to. HeartachesNhangovers Dec 21 #26

The thing is most of those who make the "big pensions" wouldn't qualify for SS in the first place. valleyrogue Dec 21 #27

Does this pave the way to drop public employee pension plans? leftstreet Dec 21 #23

No. n/t valleyrogue Dec 21 #25

Good. Because anything our overlords label a "Fairness" Act.... leftstreet Dec 21 #28

It IS a "Fairness Act." This was bipartisan legislation of the best sort. valleyrogue Dec 21 #29

Right, got it leftstreet Dec 21 #32

Only 20 GOP senators voted against repeal. valleyrogue Dec 21 #33

Question... Is President Biden vetoing this bill??? ...Still not signed yet DianneD Dec 24 #48

if Biden doesn't sign a bill he supported mercuryblues Dec 24 #49

This message was self-deleted by its author dalton99a Dec 24 #50

Methinks he will announce signing the bill between the holidays for greater exposure Brother Buzz Dec 24 #51

This message was self-deleted by its author dalton99a Dec 24 #52

That too, and see deserves the photo op considering she has... Brother Buzz Dec 24 #53

You will see a headline when he does Lulu KC Dec 25 #54