

The actual formula is a bit complicated, but it boils down to a few key points:
- you “pay into” the system at a fixed tax rate relative to your income, subject to a maximum cap after which you do not get taxed anymore.
- in order to be eligible for benefits, you need to have 10 years of some amount of income. I think the threshold for that is extremely low, something like $8k/year.
- when you retire, your income from your 35 highest earning years are sort-of-averaged together, subject to that cap I mentioned, to determine a monthly payment.
- But, that value assumes you retire and take payments at 67. Take payments early, and you get less per month. Take payments later, and you get more.
- Of course, none of this is guaranteed for future retirees. Current payments from workers go towards payments to current retirees, with the excess either saved for later or not due to the whims of the current administration. If there is ever not enough money to make payments, everyone likely takes that haircut.













The article was quite clear that they were told by a particular someone in the “Republican Establishment”, which right now is a subsidiary of Trump.
No, they don’t need to be told to hold the partisan line, but I wouldn’t put it past Trump (or even Stephen Miller) to treat them like employees. Which must be a bit humiliating for a Member of Congress…