Quote:
Originally posted by Replaced_Texan
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.
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Go look at the history of PERA. Same sort of thing. Most PERA retirees have done much better than they would have on SS - but, it's a fairly affluent group (they all have jobs), there were no real transition costs, and the model is far different from what is being contemplated for the Bush SS accounts.
