Members of Congress do not have their golden retirement parachutes based around social security...in fact I believe they do not have to pay into social security even. They can get hundreds of thousands without tax worries.
Do you think it is fair that they do not pay social security like the rest of us have to do? Depending on how long they are in office, they can get a very hefty retirement and not paid any toward soc.sec.
2007-01-26 11:16:22 · 7 answers · asked by donkey hotay 3 in Politics & Government ➔ Government
Under a law enacted in 1983, all members of Congress both contribute to and receive benefits from the Social Security system. Upon retirement, members receive either a combination of federal pension and Social Security benefits or Social Security alone, depending upon when their term of service started and how they configured their individual plan.
Members elected after 1983 pay into the Federal Employees Retirement System. Members elected before 1983 participate in the older Civil Service Retirement Program. In both cases, members of Congress contribute to the plans at a slightly higher rate than ordinary federal employees.
As of 2002, 411 retired members were receiving benefits under CSRS at an average rate of $55,788 per year and 71 were receiving benefits under FERS (or a combination of CSRS and FERS) with $41,856 per year in average benefits. Members do not automatically received lifetime pensions. How much they receive and how long they receive it depends on many factors, including age, length of service (including military) and choice of plans, etc. So, while it's conceivable that a few may receive pay-outs totalling more than a million dollars by the time they die, they would be the exception, not the rule
2007-01-26 11:27:33 · answer #1 · answered by Anonymous · 0⤊ 0⤋
thats because if they take that route they are not intitled to Soc. Sec. retirement pay is from there job, Soc. Sec. comes directly from the government, u can get both as an american citizen, but if u hold political office for a long term you dont have that luxury
2007-01-26 19:27:04 · answer #2 · answered by armyboysmith 1 · 0⤊ 0⤋
No, but what really IS wrong is that the rest of us are forced to pay into Social Security.
2007-01-26 19:26:15 · answer #3 · answered by Anonymous · 0⤊ 0⤋
No, it is not right. If Congress were forced to live under the rules that they are establishing then I bet things would be better.
2007-01-27 15:18:16 · answer #4 · answered by rwill54287 3 · 0⤊ 0⤋
congress does pay know, i do not remember when they stared but they do pay. they also get the best heath care that money can buy. lot of other stuff to to long to look up
2007-01-26 19:25:10 · answer #5 · answered by tlc3rd2000 1 · 0⤊ 0⤋
The argument of course would be whether or not the service they provide the United States is worth that much money.
Is it fair? I dunno. But I guarantee you that money isn't going to make any difference to you. If the argument is that they should be like normal citizens, I can see your point, but congressman are anything but normal.
2007-01-26 19:25:52 · answer #6 · answered by Joe J 2 · 0⤊ 0⤋
no it isnt right but that is some of the goods in being in congress!!! we pay they play!!!
2007-01-26 19:21:49 · answer #7 · answered by BlessedMommyof3.. 5 · 0⤊ 0⤋