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Ah, perhaps not. I figured they had a bit more control over it, like some other opt-out systems when SS got set up originally, but it looks like they don't.
by yamtaddle 4y ago
Ah, perhaps not. I figured they had a bit more control over it, like some other opt-out systems when SS got set up originally, but it looks like they don't.
- ethbr0 4y agoI honestly don't know, and at this point it would be digging through almost 100 years of legislative patches to find the current state. From what I read, they'd basically converged its cost of living and payouts to be Social Security-equivalent (and tied to it for the future), but I believe it's still a distinct program (that just happens to pay the same amount). There were also some oddities with porting between the two systems (railroad work -> social security work, or vice versa). It stuck in my mind because the idea of a government-backed retirement system before social security seemed such a weird historical quirk!