American I Am
Member
- Sep 10, 2009
- 89
- 11
- 6
As taken from US Congress Salaries and Benefits – Salaries and Benefits of US Congress Members
The current salary (2011) for rank-and-file members of the House and Senate is $174,000 per year.
A cost-of-living-adjustment (COLA) increase takes effect annually unless Congress votes to not accept it. (The taxpaying citizens ought to decide this)
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. (That's all they contribute to their own pension, are you kidding me)
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 Members of Congress have to serve at least 5 years to even receive a pension. (Retirement after only 20 years, are you kidding me)
We shouldn't stop with Ohio & Wisconsin, we should hold our elected officials to the same standards as ordinary Americans.
Seems to Me, Union bosses, CEO's / CFO's aren't the only ones sitting in La'Z'boys.
The current salary (2011) for rank-and-file members of the House and Senate is $174,000 per year.
A cost-of-living-adjustment (COLA) increase takes effect annually unless Congress votes to not accept it. (The taxpaying citizens ought to decide this)
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. (That's all they contribute to their own pension, are you kidding me)
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 Members of Congress have to serve at least 5 years to even receive a pension. (Retirement after only 20 years, are you kidding me)
We shouldn't stop with Ohio & Wisconsin, we should hold our elected officials to the same standards as ordinary Americans.
Seems to Me, Union bosses, CEO's / CFO's aren't the only ones sitting in La'Z'boys.
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