Serve one term in congress and you’re signed up for a full pay pension for life.
I thought it was longer. Did it change from when Barney Frank came close to being booted out of the House for knowing let his boyfriend, “Hot Bottom”, run an illegal house of gay ill repute out of Frank’s own residence?
The talk was at the time that it was 10 years for the pension, iirc.
Not even close to true. It’s five years minimum to be vested, and you can’t start receiving payments immediately upon retirement unless you are age 62 or have served for 20 years. So one term in the Senate and two and a half in the House to be eligible. And the amount is about one third of full salary for 20 years of service. Five years of service would only make you about $12,000 a year, and you wouldn’t be able to collect before age 62 unless you have at least 20 years of service.
It wasn’t that hard to find this information - https://en.wikipedia.org/wiki/Congressional_pension