Quote:
Originally Posted by d-ray657
In sum - SS looks more like a retirement plan than a savings plan. (IRAs, 401(k)s, on the other hand, are retirement savings plans.)
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Exactly- it’s a retirement or pension plan. Works like a pension plan. Intended to be a pension plan from the get go.
Pete, they send you a statement of benefit. They don't send you an account balance. It's different from the statement you get for your 401k, a saving plan, that shows what you've invested, where it's invested and how it has performed over the time since your previous statement.