It’s not savings of any sort. The remainder of your savings goes to your heirs when you die. If you don’t have a spouse, or minor children or disabled adult children, and you die before collecting all of your contributions, you and your estate forfeit 100% of the remainder.
Social Security is forced retirement savings. There’s a cap on what you pay in because there’s a cap on what you pay out.
There is a cap because republicans want to kill social security. It’s the same bullshit they are doing to the postal service.
It’s not savings of any sort. The remainder of your savings goes to your heirs when you die. If you don’t have a spouse, or minor children or disabled adult children, and you die before collecting all of your contributions, you and your estate forfeit 100% of the remainder.