WTF, congress gets a pension after only serving 5 years

[Lovebears65]

But a military person has to serve 20 years. Something is wrong with this. This is the big thing that needs to be CUT!!

 

[Harry Dresden]

But a military person has to serve 20 years. Something is wrong with this. This is the big thing that needs to be CUT!!

and what a pension it is......

 

[zzzz]

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.

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.

US Congress Salaries and Benefits – Salaries and Benefits of US Congress Members

 

[Harry Dresden]

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.

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.

US Congress Salaries and Benefits – Salaries and Benefits of US Congress Members

pretty nice, work 5....get a pension......

 

[LilOlLady]

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.

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.

US Congress Salaries and Benefits – Salaries and Benefits of US Congress Members

pretty nice, work 5....get a pension......

It is still too damn much for the work the do and the education they need to be a member.

 

[Claudette]

Yep. They make out pretty well. How many holidays and breaks do they take during the course of a year?? Pretty good deal for someone who's payed with taxpayer dollars.

Of course THEY voted this for themselves.

Wonder if my boss would let me do the same??

Don't think so.

 

[Full-Auto]

Yep. They make out pretty well. How many holidays and breaks do they take during the course of a year?? Pretty good deal for someone who's payed with taxpayer dollars.

Of course THEY voted this for themselves.

Wonder if my boss would let me do the same??

Don't think so.

 

[Mr Natural]

Yes, they do treat themselves well.

 

[rightwinger]

Congressmen get vested in the pension system after five years. They do not receive a pension until they are 62.

They pay into Social Security like everyone else and receive the same benefits
Their penison is one percent of their salary for every year served. 30 years in Congress will get you 30% of your salary ($51,000 a year) once you reach retirement age

 

[rightwinger]

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.

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.

US Congress Salaries and Benefits – Salaries and Benefits of US Congress Members

pretty nice, work 5....get a pension......

A Congressman who served five years would get a pension of $8700 a year starting at age 62. I can see why so many want to be Congressmen

 

[Divine Wind]

A Congressman who served five years would get a pension of $8700 a year starting at age 62. I can see why so many want to be Congressmen

Awesome! I wish my job allowed me to give myself a raise and gave me a pension for doing nothing for 5 years.

 

[MaggieMae]

But a military person has to serve 20 years. Something is wrong with this. This is the big thing that needs to be CUT!!

Who's gonna change it? Congress?

It's been that way for eons, but you can blame Obama if it makes you feel better.

 

[rightwinger]

A Congressman who served five years would get a pension of $8700 a year starting at age 62. I can see why so many want to be Congressmen

Awesome! I wish my job allowed me to give myself a raise and gave me a pension for doing nothing for 5 years.

When was the last time Congress gave itself a raise? When was your last raise?

How do I know you have actually accomplished anything in the last 5 years? I bet Congress has accomplished more than you have

 

[California Girl]

I hear through the military that, regardless of length of service, they will only get up to 25% retirement benefits. And vet benefits got slashed too.

This is how we repay those who defend us?

Really?

I have no objection entitlements being slashed.... but not for those who put their lives at risk for the rest of us.

Fucking congress critters and their fucking self serving, corrupt, attitudes.

This is why I don't support either of your stinking parties. Fuck 'em. All of 'em.

 

[rightwinger]

I hear through the military that, regardless of length of service, they will only get up to 25% retirement benefits. And vet benefits got slashed too.

This is how we repay those who defend us?

Really?

I have no objection entitlements being slashed.... but not for those who put their lives at risk for the rest of us.

Fucking congress critters and their fucking self serving, corrupt, attitudes.

This is why I don't support either of your stinking parties. Fuck 'em. All of 'em.

After 20 years, the military get 50% of their final pay. It increases 2.5% for every additional year. What is great about military retirement is that you do not have to wait until you are 60 to start collecting it. You can start collecting as early as 37 and collect for the rest of your life.

The Military Retirement System - Military Benefits - Military.com

 

[freedombecki]

Retirement Benefits for members of Congress (16-page PDF)

Excerpt:

Members of Congress first elected in 1984 or later are covered automatically under the Federal Employees’ Retirement System (FERS), unless they decline this coverage. Those who already were in Congress when Social Security coverage went into effect could either remain in CSRS or change their coverage to FERS. Members are now covered under one of four different retirement arrangements:

• Full coverage under both CSRS and Social Security;
• The “CSRS Offset” plan, which includes both CSRS and Social Security, but with CSRS contributions and benefits reduced by Social Security contributions and benefits;
• FERS plus Social Security; or
• Social Security alone.

Congressional pensions, like those of other federal employees, are financed through a combination of employee and employer contributions. All Members pay Social Security payroll taxes equal to 6.2% of the Social Security taxable wage base
($97,500 in 2007). Members covered by FERS also pay 1.3% of full salary to the Civil Service Retirement and Disability Fund. Members covered by CSRS Offset pay 1.8% of the first $97,500 of salary, and 8.0% of salary above this amount, into
the Civil Service Retirement and Disability Fund.

Under both CSRS and FERS, Members of Congress are eligible for a pension at age 62 if they have completed at least five years of service. Members are eligible for a pension at age 50 if they have completed 20 years of service, or at any age after
completing 25 years of service. The amount of the pension depends on years of service and the average of the highest three years of salary. By law, the starting amount of a Member’s retirement annuity may not exceed 80% of his or her final salary.

As of October 1, 2006, 413 retired Members of Congress were receiving federal pensions based fully or in part on their congressional service. Of this number, 290 had retired under CSRS and were receiving an average annual pension of $60,972. A total of 123 Members had retired with service under both CSRS and FERS or with service under FERS only. Their average annual pension was $35,952 in 2006.

​

There's a lot more at the link above if you would like to know more particulars.

 

[California Girl]

I hear through the military that, regardless of length of service, they will only get up to 25% retirement benefits. And vet benefits got slashed too.

This is how we repay those who defend us?

Really?

I have no objection entitlements being slashed.... but not for those who put their lives at risk for the rest of us.

Fucking congress critters and their fucking self serving, corrupt, attitudes.

This is why I don't support either of your stinking parties. Fuck 'em. All of 'em.

After 20 years, the military get 50% of their final pay. It increases 2.5% for every additional year. What is great about military retirement is that you do not have to wait until you are 60 to start collecting it. You can start collecting as early as 37 and collect for the rest of your life.

The Military Retirement System - Military Benefits - Military.com

That's what it is now. What I hear is that is not what it will be shortly.

So it's very sweet of you to reference the current status, but I am more interested in what our congress plans to do to those who defend us.

 

[rightwinger]

I hear through the military that, regardless of length of service, they will only get up to 25% retirement benefits. And vet benefits got slashed too.

This is how we repay those who defend us?

Really?

I have no objection entitlements being slashed.... but not for those who put their lives at risk for the rest of us.

Fucking congress critters and their fucking self serving, corrupt, attitudes.

This is why I don't support either of your stinking parties. Fuck 'em. All of 'em.

After 20 years, the military get 50% of their final pay. It increases 2.5% for every additional year. What is great about military retirement is that you do not have to wait until you are 60 to start collecting it. You can start collecting as early as 37 and collect for the rest of your life.

The Military Retirement System - Military Benefits - Military.com

That's what it is now. What I hear is that is not what it will be shortly.

So it's very sweet of you to reference the current status, but I am more interested in what our congress plans to do to those who defend us.

Woulda.....coulda.....might be

Congress will not touch this one, it is political suicide for both sides of the aisle

 

[MaggieMae]

I hear through the military that, regardless of length of service, they will only get up to 25% retirement benefits. And vet benefits got slashed too.

This is how we repay those who defend us?

Really?

I have no objection entitlements being slashed.... but not for those who put their lives at risk for the rest of us.

Fucking congress critters and their fucking self serving, corrupt, attitudes.

This is why I don't support either of your stinking parties. Fuck 'em. All of 'em.

Veterans benefits hardly got slashed. They were increased.

Veterans Report - Veterans Benefits Act 2010 Signed

 

[KissMy]

But a military person has to serve 20 years. Something is wrong with this. This is the big thing that needs to be CUT!!

Who's gonna change it? Congress?

It's been that way for eons, but you can blame Obama if it makes you feel better.

It's that asshole Bill Clinton's fault. He signed that horrible government pay raise bill into law that gives congress a raise every year unless they vote it down.

This stupid law grew government the most under the Bush administration. There is no way we will ever get a president or congress to vote down this disaster.