Originally Posted by BsmtScrapper
My newly reorganized agency (January we went from Sheriff's Department to Unified Police Department) is considering opting out of Social Security.
We're having a big vote next week. I honestly don't know which way to vote. I'm in the middle of my working career. I have enough years in to still qualify for SS when I retire (if it's still around) and yet not enough to guarantee the maximum payment.
If we vote to opt out, what my agency would pay to SS will go into a 401K type thing. I will get the $$ I pay into SS in my paycheck. Then I have to decide if I want to invest it.
Some of these fools I work with, think it's going to be a raise. Hello? This is your retirement. You can't spend it all.
Maybe you should ask Leslie to ask her DH about this. The City of Arlington has been out of SS for a long time. The retirement plan is through TMRS (Texas Municipal Retirement System) and they have a 401K and a 457 plan too. As far as I know it's a good thing.