That initial level pension is going to amount to the average of their highest 3 years salary while in the Senate or House TIMES 1% TIMES the number of years of service computed.
So, a 1 term Senator retires on a FULL PENSION of 12% of salary.
You do understand what that means, right? 12% ain't no thang!
Not for a lawyer or a doctor or a movie actor.
let’s see... 12% of $200k is $24k ... plus social security of $1k/mon.. $36k
so a one-time US senator that does only 6 yrs in public employ will receive $36k/yr
which is just under the average salary. of course, they only receive the $24k/yr when they leave office, the social security benefits kick in later
but it does allow them to get another job along the way.
seems pretty freakin rosey for doing barely anything
glad i could pay for it /sarc