Tag: noncovered
Abstract Federal law allows certain state and local government employees to be excluded from Social Security if they are covered by an employer pension of sufficient generosity. As a result, approximately one-quarter of state and local workers are not covered by Social Security on their current job. Before COVID-19, these “FICA replacement plans” all satisfied…
Plans satisfy letter of the law but fall short of lifetime benefits, new study shows. About one-quarter of state and local government employees – approximately 6.5 million workers – are not covered by Social Security on their current job. These workers are concentrated in 12 states (see Table 1). To remain outside of Social Security,…