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Posted on 06/29/2025 12:33:39 PM PDT by DallasBiff
Elected representatives and senators in the U.S. Congress receive substantial pension benefits for life. Congressional retirement pay is not typically a big election-year issue, but it might serve as evidence of a disconnect between lawmakers and the mainstream United States.
SNIP
Congressional members are eligible for their own unique pension plans under the Federal Employees Retirement System (FERS), though there are other retirement options available, ranging from Social Security to the Civil Service Retirement System (CSRS).3 Members of Congress are eligible for a pension dependent on the member’s age at retirement, length of service, and salary.4 The pension value can be up to 80% of the member’s final salary, which is $174,000 per year. At an 80% rate, that’s a pension benefit of $139,200. (The Speaker of the House has a salary of $223,500. The Senate President makes $193,400, as do the majority and minority leaders in the House and Senate.) All benefits are taxpayer-funded.56
(Excerpt) Read more at investopedia.com ...
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Thank you very much and God bless you.
More than I'll ever get.
At least Trump gives his salary and pension to charity.
I didn't see in the article how many terms a congressman must serve to have 80% pension.
Heard Congress is holding out for both no tax on tips and overtime and also no tax of graft by Congress. Or no deal.
“First I lose on the Chinese Yuan money exchange for favors and then I pay tax on the income I can’t money launder. I may just quit Congress.”
Well, duh. If I could vote for my own salary, benefits and retirement package, I would live like a king, too.
Every $50k in retirement payout would require $1m worth of investments in the bank.
This is the equivalent of $3-4m retirement fund for everyone in congress
Miami Herald article Pittenger and Thom Tillis are wealthiest members of Congress from NC By Anna Douglas June 15, 2023.
“Tillis has an estimated $8.9 million in personal wealth, making him the 20th richest U.S. senator. Tillis, who is serving his first term in Congress, is a former PricewaterhouseCoopers and IBM executive turned consultant.”
Finbold site:
Jun 19, 2024 — Thom Tillis’ net worth is estimated to be between $3,254,049 and $11,085,998, according to his financial disclosure report for the year 2023.
Now that is a big difference. Wonder how much is laundered and hidden in numbered accounts.
I would too if I made 2 billion since January.
Members of Congress should be compensated solely by the states that send them. I don’t think that many of them really know who they are working for, except for Dems, they work for the Lord of Darkness.
Decrease their benefits each term of service. Maybe they’ll retire earlier.
Forty two years, but that benefit ended for those first elected during the 1984 cycle. Same as for Federal Employees (ended in 1983).
When one Congress critter lose election AFTER 4 years in office, how much then?
Oooooh, I like that idea. 25% each term after the first one.
Nothing. Needs five years to be vested.
Nice Work If You Can Get It.
Ridiculous. And they don’t even fund most of it themselves.
Want to lower the deficit? Start there .
Ge, hey don’t they have to go on Social Security like us common folk do?
“Members of Congress are eligible for a pension dependent on the member’s age at retirement, length of service, and salary.”
U.S. Office of Personnel Management. “Eligibility.”
The pension value can be up to 80% of the member’s final salary, which is $174,000 per year. At an 80% rate, that’s a pension benefit of $139,200.”
I believe some government workers can also draw up to 80% of their salaries when they retire. Am I wrong?
FERS pension is calculated at 1% PER YEAR.
There is NO WAY IN HELL congress-ctitters serve 80 years. Now, if you factor in FERS and SSI, then roughly 40 YEARS could equate to 80%. This is over and above all the $$$$ they stole while in Congress. ANY wonder WHY they are ALL multi-millionaires??
TERM LIMIT THE BASTARDS and NO PENSION!!!
These people should not have pensions. Being elected to office should not be a career.
Congress is an elected office not a career.
There should be no benefits when out of office.
Nine members of Congress are covered under CSRS. They will get 80 percent.
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