DISQUS

The Iowa Independent: Agriprocessors Ignored Government Warnings for Years

  • Jerry · 1 year ago
    Where does the money go? If the SSA can't match the name of the employee with the SSN, what do they do with the money that's been turned in for that employee?  Do they send it back?  Apparently not.  Whose money would you say it rightly is? 


    The employer sent his matching share to the SSA knowing that the account did not really belong to that employee.  The employee had money withheld from his wages that he will never get back in benefits.  This looks a bit like a con game on the part of the Social Security Administration if they are keeping the money.

  • Tichaona Chinyelu · 1 year ago
    According to the essay written by Erik Camayd-Freixas, Ph.D., "People often wonder where those funds go, but have no idea how much they amount to. Well, they go into the SSA’s “Earnings Suspense File,” which tracks payroll tax deductions from payers with mismatched SSNs. By October 2006, the Earnings Suspense File had accumulated $586 billion, up from just $8 billion in 1991. The money itself, which currently surpasses $600 billion, is credited to, and comingled with, the general SSA Trust Fund. SSA actuaries now calculate that illegal workers are currently subsidizing the retirement of legal residents at a rate of $8.9 billion per year, for which the illegal (no-match) workers will never receive benefits.