No. of Recommendations: 1
TwoCybers,

You wrote, Part of that maybe men's life expectancy is shorter (and in 1935 the labor force was primarily male) plus many people were not part of social security when it was enacted. (i.e. Railroad workers, teachers, many government employees, etc.)

FWIW, most teachers and a number of state and federal workers still don't participate. Most states have some TRS / pension plan that covers teachers and often a number of state workers as well; if you're eligible for a TRS plan you are exempt from FICA. I believe there's something similar for federal workers, though I don't have any personal experience with it.

From what I understand, any state or local government can be exempted from the Social Security tax portion of FICA if they can show that they have a qualifying defined benefit pension plan that covers their employees.

- Joel
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement