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Up to 80% pension after 5 years?????

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posted on May, 23 2012 @ 01:42 AM
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Huh, wish I had such a cush job!

Members who participate in the congressional pension system are vested after only 5 years of service.

A full pension is available to Members 62 years of age with 5 years of service; 50 years or older with 20 years of service; or 25 years of service at any age. A reduced pension is available depending upon which of several different age/service options is chosen.

If Members leave Congress before reaching retirement age, they may leave their contributions behind and receive a deferred pension later.

How much they receive depends on a complicated formula based on when they joined Congress, how old they are at the time of retirement, how many years of service they had at the time of retirement (including previous military or other federal service), their salary, and which pension option they chose when they enrolled.

There is a limit, however. A Member's pension amount may not exceed 80% of his/her salary upon retirement. A regular member of congress makes $158,100 per year, so a pension for them could not exceed $126,480. A member of the leadership makes $175,600 and the Speaker gets $203,000, so their pensions could be up to 80% of those amounts.
And of course, they give themselves pay raises without any permission from us, and they get a better healthcare than Medicare and Medicaid, and they also get their social security checks from their other jobs. Not bad, huh?
Can ANYONE tell me, why in a "Representative Government", we are NOT being represented? Other than the Corporate Control of government and SuperPac money, Lobbyists, Influence and Bribery? WHY is it the Public doesn't get to vote in a Referendum when it comes to a vote on Lessening our Rights and an increasing Police State? And then the crooks give themselves a guaranteed pension system and health care better than the rest of us "Everyone is Equal Before the Law" American Citizens?




posted on May, 23 2012 @ 02:29 AM
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Thanks for pointing this out. Didn't we all expect this tho? START RANT Congress-critters vote themselves pay raises(nice that they can vote their own benefit, when has an employer asked an employee how much raise they want?) They can use govt transportation, they work so hard(They can come in for a day and VOTE oooh or skip it and go play golf.)
Yeah, its so tough. Now they could retire after only 5 years, huh. Nice, while workers now are facing a possible raise of retirement age to 70 IIRC. And ooh they would have to live on only 126,000 a year. While most people struggle to make 60K per year often less. END RANT.



 
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