Thread: Social Security - Take it or leave it?

some of you help me here. i believe the city of galveston, tx opted out of the SS system some time ago and the last i heard was the people had a lot more of a retirement fund than they ever dreamed (as much as 3 time more)

Originally Posted by 59caddy

some of you help me here. i believe the city of galveston, tx opted out of the SS system some time ago and the last i heard was the people had a lot more of a retirement fund than they ever dreamed (as much as 3 time more)

I doubt it. No Govt entity can opt out of social security as it is federal law. The only one who can opt out is the Federal Govt. I'm retired from the Fed Govt under the old pension system and we never paid into Social security and even after retirement if I work and put in enough to get Social Security the law is designed to keep us from getting but a pitance. The newer system came in around 83 or so so federal Employees from that time pay into Social Security.

I hate the system, mainly because I am paying into it, but no one from my generation will ever see a penny of it.

Thanks baby boomers.

It's nothing personal, you understand.

with a little search i found it. just google social security in galveston, texas.
they did opt out in 1981. this was for county workers. also two other counties in texas also opted out. it can be done and according to records their return is as much as twice what we can expect from our current system.