I'm sure that has long since been identified as a "loophole" and "fixed".
You are right, they closed that ‘loophole’ long ago.
On average the plan has done a 6 1/2 percent return which is about 3 times the return from SS.
http://www.usatoday.com/news/opinion/2005-03-15-benefits-reform-galveston_x.htm
Yes, it has.