A Message from Your Union
Local 1245 members who are part of the Social Security system will see a reduction in the Social Security withholding from their paychecks in 2011.
A windfall for employees? That’s one way to look at it — a little extra cash in the pocket.
But another way to look at it is this: Although the Social Security system itself is in pretty good shape, and its problems could be fixed relatively easily, some politicians are looking for excuses to dismantle the system.
Just to be on the safe side, you might want to take that little 2% boost in your paycheck that Congress just gave you and deposit it in a 401k, deferred compensation compensation account, or some other form of retirement savings.