[Vision2020] Is someone lying?

[lfalen]

Thanks for the information. That still does not change the fact that pay cuts should start with congress and the President.
Roger
-----Original message-----
From: Wayne Price bear at moscow.com
Date: Tue, 11 Oct 2011 10:06:39 -0700
To: lfalen lfalen at turbonet.com
Subject: Is someone lying?

> 
> 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!
> >
> >
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> 
> 
>