1 tour of duty in Congress, and you get about $15,000 month for
the rest of tyour life. And do not have to pay Social Security.
Are you claiming that after serving a single
term in the House you are pensioned off at
$180,000 per year? That would be a *raise* for most of the people in Congress,
(not counting what they probably siphon off here and there).
Cite?
I find dramatically different information, such as:
• Members elected since 1984 are covered by the Federal Employees' Retirement
System (FERS). Those elected prior to 1984 were covered by the Civil Service
Retirement System (CSRS). In 1984 all members were given the option of
remaining with CSRS or switching to FERS.
• As it is for all other federal employees, congressional retirement is
funded through taxes and the participants' contributions. Members of Congress
under FERS contribute 1.3 percent of their salary into the FERS retirement plan
and pay 6.2 percent of their salary in Social Security taxes.
Members of Congress are not eligible for a pension until they reach the age of
50, but only if they've completed 20 years of service. Members are eligible at
any age after completing 25 years of service or after they reach the age of 62.
Please also note that Member's of Congress have to serve at least 5 years to
even receive a pension.
The amount of a Congressperson's pension depends on the years of service and
the average of the highest 3 years of his or her salary. By law, the starting
amount of a Member's retirement annuity may not exceed 80% of his or her final
salary.
Data compiled in 20034 showed 413 retired Members of Congress were receiving
federal pensions based fully or in part on their congressional service. The
average age of those retiring under CSRS was 75.5 and had at least 20 years of
federal service. Those who retired under FERS had an average age of 68.3 years
and 21.6 years of federal service. Their average retirement payment was $3,909
a month.
The current salary for rank-and-file members of the House and Senate is
$158,100 per year.
My cite?
http://usgovinfo.miningco.com/librar.../aa031200a.htm
Gues you can't believe everything you hear on the radio. :-)