[Vision2020] Is someone lying?

[Wayne Price]

Is it true that . . .   Members of Congress do not pay into Social  
Security and when they retire they receive a pension equal to their  
congressional salary for the rest of their life?

The answer is no. All members of Congress pay Social Security taxes in  
the same amounts as they would if they were employed in the private  
sector at the same salary level. The amount of a congressional pension  
varies and depends on years of service, age at the time of retirement,  
and salary.
The facts: The confusion about Social Security probably results from  
the fact that before 1984, Senators and Representatives did not  
participate in the Social Security program. Like all federal  
government employees at that time, members of Congress were covered by  
a pension plan, called the Civil Service Retirement System (CSRS),  
that did not require payment of Social Security taxes and did not  
provide Social Security benefits. In 1983, Congress passed a law (P.L.  
98-21) that required all federal employees first hired after 1983 to  
participate in Social Security. The law also required all members of  
Congress to participate in Social Security as of January 1, 1984,  
regardless of when they first entered Congress. Because the CSRS was  
not designed to coordinate with Social Security, Congress directed the  
development of a new retirement plan for federal employees, called the  
Federal Employees Retirement System (FERS), which does coordinate a  
federal pension with Social Security.
Members of Congress are eligible for a pension at age 62 if they have  
completed at least five years of service. They 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 percent of his or her final  
salary. As of October 1, 2000, the average annual pension for members  
of Congress who have retired under CSRS is $52,464, and $46,932 for  
retirees under FERS-only or both FERS/CSRS.





On Oct 11, 2011, at 9:47 AM, lfalen wrote:

>
> -----Original message-----
>
> From: "Tom and Claire" tandc at moscow.com
> Date: Mon, 10 Oct 2011 11:53:50 -0700
> To: "Anderson Kendrick" kenanderson5337 at gmail.com
> Subject: Fw: Fwd: Cut in Wages ??
>
>
> Subject: Cut in Wages ??
>
>
> Subject: FW: Ya Think?........... Wages
>
>
>
>
>
>
>
>
> You decide…
>                              Wages
>
>                              Salary of retired US  
> Presidents ............$450,000  FOR LIFE
>                              Salary of House/Senate members ......... 
> $174,000 FOR LIFE
>                              Salary of Speaker of the  
> House ............$223,500 FOR LIFE
>                              Salary of Majority/Minority Leaders .... 
> $193,400 FOR LIFE
>
>                              Average salary of a soldier DEPLOYED IN  
> AFGHANISTAN - $38,000
>                              Average income for seniors on SOCIAL  
> SECURITY - $12,000
>
>                              I think we found where the cuts should  
> be made!
>
>
>
>
>
>
> From: "Tom and Claire" <tandc at moscow.com>
> Date: October 10, 2011 11:53:50 AM PDT
> To: "Anderson Kendrick" <kenanderson5337 at gmail.com>
> Subject: Fw: Fwd: Cut in Wages ??
>
>
>
> Subject: Cut in Wages ??
>
> Subject: FW: Ya Think?........... Wages
>
>
>
>
>
> You decide…
> Wages
>
> Salary of retired US Presidents .............$450,000  FOR LIFE
> Salary of House/Senate members ..........$174,000 FOR LIFE
> Salary of Speaker of the House .............$223,500 FOR LIFE
> Salary of Majority/Minority Leaders .....$193,400 FOR LIFE
>
> Average salary of a soldier DEPLOYED IN AFGHANISTAN - $38,000
> Average income for seniors on SOCIAL SECURITY - $12,000
>
> I think we found where the cuts should be made!
>
>
> =======================================================
> List services made available by First Step Internet,
> serving the communities of the Palouse since 1994.
>               http://www.fsr.net
>          mailto:Vision2020 at moscow.com
> =======================================================

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