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Re: RR Retirement vs. Social Security
Author: George Andrews
Date: 04-18-2012 - 16:59
It is my understanding that :
1) RR Retirement predates Social Security by 15 or so years.
2) RR Retirement was the model that the Social Security system was based on.
3) RR retirement & SS are essentially both LEGAL Pyramid Schemes, that depend on a constantly growing pool of workers to pay into the system, to fund benefits to those ( comparatively ) few who are retired.
4) RR Retirement, while "overseen " by the federal Government, is privately funded by the nation's railroads and their eligible employees.
Just curious; try to keep Politics ( 'D' vs. 'R' ) out of it please.
My mother was the bookkeeper for the family business, and I can still recall her complaining THIRTY YEARS AGO that :" Social Security would be in great shape ( i.e. - solvent ) IF ONLY the Feds would keep their hands off of it and quit borrowing from its' funds without paying it back." I also remember my grandfather enjoyed a pension from Railroad Retirement.
1) RR Retirement predates Social Security by 15 or so years.
2) RR Retirement was the model that the Social Security system was based on.
3) RR retirement & SS are essentially both LEGAL Pyramid Schemes, that depend on a constantly growing pool of workers to pay into the system, to fund benefits to those ( comparatively ) few who are retired.
4) RR Retirement, while "overseen " by the federal Government, is privately funded by the nation's railroads and their eligible employees.
Just curious; try to keep Politics ( 'D' vs. 'R' ) out of it please.
My mother was the bookkeeper for the family business, and I can still recall her complaining THIRTY YEARS AGO that :" Social Security would be in great shape ( i.e. - solvent ) IF ONLY the Feds would keep their hands off of it and quit borrowing from its' funds without paying it back." I also remember my grandfather enjoyed a pension from Railroad Retirement.
