I stand corrected, that's how long it's been since I looked at the subject, they also have their own retirement plan and depending on the length of time they actually served can retire with their Congressional salary.Originally Posted by BIGLRY
I stand corrected, that's how long it's been since I looked at the subject, they also have their own retirement plan and depending on the length of time they actually served can retire with their Congressional salary.
Equitare solum equitare amplius
True, but anytime your freedom is taken, I don't care how nice the surroundings are, it's prison.
Equitare solum equitare amplius
Yeah, but.......... He most likely has a new cell phone with him.....probably all he needs.
What he said !!!
They have to pay into SS but ... they make sure they have significant salaries to compensate for it.
Now Huma and Hillary can continue their fish fry without that horny pedophile in the way. Just think at the same time I had as my
Congressman: Anthony Weiner - serving time in prison for sexting with a underage girl
State Senator: Carl Kruger - sentenced to 7 years in federal prison pleaded guilty to two counts of conspiracy to commit mail and wire fraud and two counts of bribery conspiracy. Secretly lived with his longtime male partner while pretending that his partner's mother was his girlfriend
Governor: Eliot Spitzer - Resigned in disgrace in 2008 due to paying up to $80,000 for prostitutes over a period of several years while he was attorney general, and later as governor. Paying for those prostitutes with money transfers violating the anti-money laundering provisions of the Bank Secrecy Act and the Patriot Act. All the while married with 3 daughters.
Get me out of here
Equitare solum equitare amplius
You can always come out to the land of fruits with nuts !!!
Stu's win was all fun and games until he perved out in front of a bunch of local children.
Another name is leaked.
Rep. Raúl Grijalva's (D-Ariz.) office paid out $48K in workplace settlement (claiming allegations were not sexual in nature).
grijalvas-office-paid-out-48k-in-workplace-settlement
If I understand the history correctly from the older employees I work around that's right about the time they voted themselves out of CSRS (Civil Service Retirement System) which they were in with the majority of federal employees. They then ended CSRS and transitioned all new employees hired from 1983 onward to FERS (Federal Employee Retirement System). Basically went from a fully funded traditional style retirement to a 401k type plan. Then they voted themselves a plan similar to CSRS. Wonderful plan CSRS was. FERS can be but they've made it a lot harder to work with and are trying to remove the safety aspects of one of the core funds.
I don't have the exact legislation that was used, however I'm fairly confident that one or more of the more informed contributors in this forum can shed further light on the subject.
Prior to 1984, neither federal civil service employees nor Members of Congress paid Social
Security taxes, nor were they eligible for Social Security benefits. Members of Congress and
other federal employees were instead covered by a separate pension plan called the Civil Service
Retirement System (CSRS). The 1983 amendments to the Social Security Act (P.L. 98-21)
required federal employees first hired after 1983 to participate in Social Security. These
amendments also required all Members of Congress to participate in Social Security as of January
1, 1984, regardless of when they first entered Congress. Because CSRS was not designed to
coordinate with Social Security, Congress directed the development of a new retirement plan for
federal workers. The result was the Federal Employees’ Retirement System Act of 1986 (P.L. 99-
335).
Members of Congress first elected in 1984 or later are covered automatically under the Federal
Employees’ Retirement System (FERS). All Senators and those Representatives serving as
Members prior to September 30, 2003, may decline this coverage. Representatives entering office
on or after September 30, 2003, cannot elect to be excluded from such coverage. Members who
were already in Congress when Social Security coverage went into effect could either remain in
CSRS or change their coverage to FERS. Members are now covered under one of four different
retirement arrangements:
CSRS and Social Security;
The “CSRS Offset” plan, which includes both CSRS and Social Security, but
with CSRS contributions and benefits reduced by Social Security contributions
and benefits;
FERS; or
Social Security alone.
Congressional pensions, like those of other federal employees, are financed through a
combination of employee and employer contributions. All Members pay Social Security payroll
taxes equal to 6.2% of the Social Security taxable wage base ($118,500 in 2016 and $127,200 in
2017). Members first covered by FERS prior to 2013 also pay 1.3% of full salary to the Civil
Service Retirement and Disability Fund (CSRDF). Members of Congress first covered by FERS
in 2013 contribute 3.1% of pay to the CSRDF. Members of Congress first covered by FERS after
2013 contribute 4.4% of pay to the CSRDF. In 2014, Members covered by CSRS Offset pay 1.8%
of the first $118,500 of salary in 2016 ($127,200 in 2017), and 8.0% of salary above this amount,
into the CSRDF.
Under both CSRS and FERS, Members of Congress are eligible for a pension at the age of 62 if
they have completed at least five years of service. Members are eligible for a pension at age 50 if
they have completed 20 years of service, or at any age after completing 25 years of service. The
amount of the pension depends on years of service and the average of the highest three years of
salary. By law, the starting amount of a Member’s retirement annuity may not exceed 80% of his
or her final salary.
There were 620 retired Members of Congress receiving federal pensions based fully or in part on
their congressional service as of October 1, 2015. Of this number, 344 had retired under CSRS
and were receiving an average annual pension of $74,136. A total of 276 Members had retired
Back to the pedophile rings in Congress, get the book "Transformation" by Cathy O'Brien and it'll give you a good idea what goes on in Washington and Bohemian Grove, the players will shock you.
Equitare solum equitare amplius
Posting Permissions
Reply With Quote