2007-03-09 13:25:29 · 11 answers · asked by golfer7 5 in Politics & Government ➔ Government
You would think people might actually do some research before answering your question.
The answer is, no they do not receive huge pensions.
Yes they do pay into Social Security.
Members of Congress must serve in Congress for a minimum of 5 years to be vested in the Congressional pension plan.
Members must be 62 years old to start collecting their pensions.
exceptions:
those who serve more than 20 years, can start collecting their pension at age 50.
Or at any age after serving 25 years.
Congressmen since 1984 are under FERS Federal Employee Retirement System.
Congressmen since 1984 also pay into SS
2007-03-09 15:08:57 · answer #1 · answered by jeeper_peeper321 7 · 0⤊ 0⤋
A lot of government employees don't participate in Social Security. I work for the county and what would be my Social Security goes into Colorado PERA. When I retire (or if), I am not allowed to draw Social Security. Honestly, I don't understand hew it all works.
2007-03-10 01:34:48 · answer #2 · answered by startthisover 3 · 0⤊ 0⤋
They get very very well taken care of for life. Besides their huge pension, they have dozens of "perks". Free many many items - - paid for by the poor taxpayer.
They don't pay in to social security, instead they have their own type of social security that is never dipped into.
2007-03-09 21:32:44 · answer #3 · answered by Anonymous · 0⤊ 0⤋
here's what I could find. Apparently they do participate in SS.
Don't forget, those who have been in for awhile, can command large fees for speaking, etc. and many are lawyers and can return to their law firm.
Once they leave office will they have to live on macaroni and cheese? Hardly!
2007-03-09 21:34:37 · answer #4 · answered by TedEx 7 · 0⤊ 0⤋
yes it's true, and they can vote for their own pay raises too. They are now voting on increasing their monthly pension by 15,000 a month, even if they are a one termer.
2007-03-09 21:29:15 · answer #5 · answered by kf 4 · 0⤊ 0⤋
Yup. Been this way longer than I can remember. It's nice to be able to give yourself good perks, isn't it?
2007-03-09 21:33:41 · answer #6 · answered by yupchagee 7 · 0⤊ 0⤋
Sorry but that is an urban legend.
www.snopes.com
2007-03-09 21:30:00 · answer #7 · answered by Anonymous · 0⤊ 0⤋
not only that, they also can't be sued for insider trading, bet you most people don't know that
2007-03-09 21:31:50 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Yes, that is true.
2007-03-09 21:30:10 · answer #9 · answered by nobsallowed 2 · 0⤊ 0⤋
no.
search it on www.snopes.com
2007-03-09 21:29:00 · answer #10 · answered by archangel72901 4 · 0⤊ 0⤋