Just curious, do you pay social security?
It's true this will end up in the general fund. Prior to the law FRS payments are made from the general fund to pay benefits and increase investment. From the general fund employees of the state are also paid. After the law passes a small percentage that would have gone to paychecks now stays in the general fund. That money can be used for anything. To figure out if it's going to FRS, we would have to compare FRS payments between budgets to see if the funds are in fact being transfered over to FRS. I'd love to know if that's the case once the budget is published. If they don't transfer the money over, they aren't improving the financial stability of the FRS system. Sort of like Washington spending social security surpus on other things - kicking the problem down the road.
Yes and as far as I know there are 3 fire departments that do not pay SS and they have to meet stringent requirements that would include SS like payments to surviving members in the event of death/ disability. They are also enacted by special legislation.