Nope, a welfare PONZI SCHEME! It was foisted off on us when people hardly ever made it past 60 years-old. The qualifying age was 62 at the youngest. At that time they had statistics and longevity on thier side and the whole scheme was workable but the population started living longer. If they wanted to repair it they should have been raising the ages to keep up with the longevity, but being the state, they didn’t.