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View Diary: Federal workers out-earn private sector ones ... at the low end. At the high end, they earn less. (66 comments)

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  •  I did pay in to SS (2+ / 0-)
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    Bush Bites, bigrivergal

    Most public employees do pay into SS. One of the ways that public employees receive retirement security is the forced savings aspect of their Job.

    As a state worker I paid 6% for pension matched by the state. (12% off my salary.) SS 6.5% (13% of my salary) The matches are deferred compensation. Essentially I was forced to save 25% of my salary for 26 years. Add in investment returns and I was able to retire at 50 because I was a correctional employee. (Correctional work is a proven life shortener and MN allows for public safety workers to retire in their early 50"s as a compensation for the health damage.)

    As a federal employee I pay SS, FERS, and TSP. Again this adds up to about 20% of salary.

    Its the forced savings that generates the ability to retire with dignity.

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