Any comments about Mr Madoff?

[sugarpop]

Originally Posted by Clodfobble

I don't know exactly what PERS is, but if it's a state-run retirement program, then in general the rule is you can't take both. My mother-in-law is a teacher: in Illinois, teachers pay into the normal SS system. But in Texas, where she moved later in life, teachers pay into a special state retirement program. She cannot collect both. At this point, her teacher retirement payout will be much more than SS, so obviously she knows which one she's going to choose to take, but she has basically just lost those ten years or so that she was paying into SS.

That is just wrong. If you pay into both, you should receive a % amount for the years you paid in. 10 years worth wouldn't be much, but still, she paid in, she should be paid out.