Thursday, February 17, 2005

Retirement Benefits for Members of Congress

Perhaps we're asking the wrong questions.

Prior to 1984, neither federal civil service workers nor Members of Congress paid taxes to social security.

Under both CSRS and FERS, Members of Congress are eligible for a pension at age 62 if they have completed at least 5 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 3 years of salary. By law, the starting amount of a Member’s retirement annuity may not exceed 80% of his or her final salary.

if congress's ideas are so grand for social security, why don't they join the system ..


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