Time To Put An End To Congressional Pensions & Lifetime Health Care.

[TheMastersNemesis]

It would be nice for most workers if they only had to work for 6 to 8 years and get a cushy pension and lifetime health care. I forgot Congressional politicians don't have to work really. They are on vacation most of the time at taxpayer's expense. That 6 to 8 years actually only comes down to a few months actually of real work.

All you hear from GOPPERS and conservatives and even some Democrats is that we need to cut ENTITLEMENTS, which workers actually paid for during their working life. So many things that workers get are entitlements. Even your paycheck is an entitlement to some of these assholes. You sure need to work for very little or volunteer as far as they are concerned. Starvation wages ae even too much money.

There are so many things we can't afford that we must sell off the commons to just stay afloat. Of course CEO's and big business and the defense industry are entitled to what they get for the so little they deliver to the American tax payer.

Politicians have made sure that public pensions were put under risk by underpaying a fair share and allowing Wall street to rob everyone blind included millions of Americans 401k's. Remember the crash where just about every taxpayer with a 401k lost $100,000 value or more. Yet not a single banker or hedge fund manager went to jail. They got bailed out with trillions of dollars to make them solvent. Congress did nothing to correct the situation.

The most conservative politicians blocked any attempt to help.

Now GOPPERS are in a frenzy to end the safety net, privatize everything, cut Medicare and Social Security just so some billionaires can have a few more mansions and yachts.

And these same politicians can get a pension after only about six years of work. Well faux work actually. That is because they go on vacations and junkets about 80% of the time. Under Boehner and McConnel you never know if the House of Representatives or the Senate is in session.

Look at the nearly 2 month vacation they are on now. They only work about 2 months a year and get full pay.

[1StrongBlackMan]

1. I agree ...

congressional pensions should be like any other pension ... leave the job before the vesting period, you take with you what you put in ... to reinvest into another retirement account. Leave after the vesting period, you get to take both your share and the employer's share ... to reinvest into another retirement account.

I would even favor a "thanks for your service" immediate vesting for congress folks.

[Bluenorthwest]

6. First, the do work like any other pension plan, second, in pension plans you don't take it with

you and move it to some new account. It's a pension plan, not a 401K. Congress has a 5 year vesting period, for full benefits, with the Senate qualifying for partial benefits at 62 with just one year of service.
"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."

Traditional pension plans are not something you can cash out of and move to another pension plan.

[1StrongBlackMan]

10. Okay, but yes ...

one can draw down their pension account and move it to another retirement account upon separation.

I've done it twice in my career.

[Sgent]

12. Only

cash value pension plans, not defined benefit plans.

That was a major benefit of 401k's and cash balance pensions -- they allow for portability.

[madville]

13. You're both kind of correct

Federal employees including politicians get a pension and matching contributions into a TSP fund. There is an investment fund they can take with them along with the defined pension they vest in after 5 years of service.

The pension itself for federal employees isn't really all that fantastic unless you get to 30 years of service then one can draw it at their minimum retirement age and start receiving their Social Security early in the form of a supplement equal to what they would get at age 62.5. Don't get to 30 years and the potential benefits are greatly reduced.

[spinbaby]

2. They don't care

They're getting so rich being in congress that pensions mean nothing to them. As it is, only the rich can afford to run for congress and they get richer while they're there. I rather see that they get a pay increase, that we have public funding for elections, and have a crackdown on the cronyism that fills their pockets.

[dsc]

3. we complain, loudly and longly about rich Congresspeople

and Congresspeople using the revolving door. If you think it is bad now, just wait till an idea like that is put into effect. Being a Congressperson is at least as demanding a job as being a high level executive in a business and people who do that get the perks being given to Congresspeople.

[LWolf]

4. No it's not.

It's time to offer the rest of the country pensions and lifetime health care.

[Gidney N Cloyd]

8. +1

[Vinca]

5. I have a confession to make.

I once pondered running for Congress just for the money. I don't want to do the job. I don't want to live in Washington. The only parts I find attractive are the salary, benefits and travel perks. Maybe that's the problem with Congress . . . half of them are only there for the loot and obscene benefits.

[tritsofme]

7. You would only hurt the few legislators out there of modest means.

To the mega-rich that dominate Congress, the pay and benefits are a drop in the bucket and taking it away would not bother them much.

But you would make life very difficult for men like Joe Biden or Bernie Sanders to ever get started or stay involved in politics.

You make lots of valid points, but this is a bad prescription.

[smirkymonkey]

9. Hear, hear!

It's about time. Anyone want to volunteer to circle the petition?

[pinboy3niner]

11. Members of Congress pay into their pensions and healthcare like all other federal employees

Including you, when you were at DOL.