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To: outofsalt
They need only 5 years to become "vested" ~ not 6. It takes a Senator one term to achieve that, and a Representative 3 terms to achieve that (although they get double time ~ win one term for 2 years all you got is 4 years, so hire on as a janitor with DOD and you got 5 years).

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.

77 posted on 08/16/2011 6:27:42 AM PDT by muawiyah
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To: muawiyah

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


80 posted on 08/16/2011 6:59:20 AM PDT by sten (fighting tyranny never goes out of style)
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