I didn't realize this, but Brazoria, Matagorda and Galveston counties here in Texas opted out of Social Security 24 years ago, transferring the retirement taxes of county employees into private investment accounts.
Here's an article on what the retirees think of the whole thing: http://www.sanluisobispo.com/mld/san...d/10933779.htm
Quote:
That's the good news: As the nation prepares to debate a momentous potential change in the bedrock federal retirement plan, there are some real-world experiences in Texas available to be studied as test cases.
The bad news is that the verdict is decidedly inconclusive. No one here can agree whether county retirees are better off than they would have been had they stayed with the Social Security system - a dilemma that precisely mirrors the emerging complexities of the national Social Security debate.
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"In the olden days before the internet, you'd take this sort of person for a ride out into the woods and shoot them, as Darwin intended, before he could spawn."--Will the Vampire People Leave the Lobby? pg 79
Last edited by Replaced_Texan; 02-18-2005 at 04:34 PM..
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