[Shermy]

W just noted the Thrift Savings Plan offered to federal employees. let me tell you, as a federal employee this is the greatest thing ever offered us! and every day citizens should have the same right as I do as a federal employee!

Please explain. Do they divert your SS into this plan, or is this like a 401-k?

[steveegg]

The Federal Thrift Savings Plan acts much like a 401(k). The details on privatization aren't complete, but a portion of the SS tax would, with the worker's consent, be put into something similar, with a limited number of low-risk options.

[BamaDi]

I don't pay into social security at all....i'm under the old civil service retirement system....i pay into federal retirement, and then have 8% of my salary go into the TSP....new employees (if you consider l985 date of hire new) pay into ss and then they can pay up to 15% of their salary into TSP with the government matching up to 5%....i'm not real versed on the "new" system as I've been working for the government since l969 but that's a very basic way to describe it....we all pay into Medicare....

[goldstategop]

You get to take a portion of existing payroll taxes and divert them into a personal account. So you have an extra source of income available for you and not just Social Security. You have two income sources to draw on. No wonder the Democrats are terrified. If you aren't entirely dependent on the government, there are no votes in it for them. That's why they're playing pure obstructionism on Soche Security reform. Something that benefits Americans is bad news for the Democratic Party.

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