The Motley Fool Discussion Boards
Retirement Discussions / Retired Fools
|Subject: Re: Service Pension & Social Security?||Date: 3/16/2000 8:41 AM|
|Author: jtmitch||Number: 2928 of 19577|
<<I would just add that Medicare tax still applies (at least it does to my military pension). It is approximately
Pixy responded :
Hmmm... I would check that out if I were you. First, Medicare taxation is 1.45%, not a half. Second, it only occurs
when you are working, not retired and drawing a pension. I've been drawing my military pension since 1986, and I
assure you no part of it goes to FICA. Methinks something else is at work in your situation.
jtmitch responds to Pixy...
Yes, something is at work in my situation.... I got the basic fact wrong (that Medicare is deducted from (military) pensions) AND I got the amount of Medicare deduction wrong. However, I will point out that I did spell my name correctly.
PS I feel like you have given me a 1.45% pay raise; I guess I must have fallen asleep during a retirement seminar and dreamed that I heard that and it stayed with me for the past four years. Thanks for setting me straight.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|