Did'ja know that Congress folk receive lifetime medical and retirement benefits after 5 years?

[Kablooie]

It only takes 5 years in Congress to be vested in the US Gov health and retirement plans.
From then on they never have to worry about it again whether they work again or not.

Run for office and win twice and you're set for life.


http://www.opm.gov/retire/index.aspx

[somone]

1. Yep

Disgusting, isn't it?

[CreekDog]

11. "full retirement" after 5 years is a false --but it does sound good

Retirement Under FERS. There are four possible retirement scenarios for
Members who are covered by FERS:
Retirement with an immediate, full pension is available to Members at age 62
or older with at least five years of federal service; at age 50 or older with at least
20 years of service; and at any age to Members with at least 25 years of service.
Retirement with an immediate, reduced pension is available at age 55 to
Members born before 1948 with at least 10 years of service. The minimum age
will increase to 56 for Members born from 1953 through 1964 and to 57 for
those born in 1970 or later.
Retirement with a deferred, full pension is available at age 62 to former
Members of Congress with at least five years of federal service.
Retirement with a deferred, reduced pension is available at the minimum
retirement age of 55 to 57 (depending on year of birth) to a former Member who
has completed at least 10 years of federal service. The pension annuity will be
permanently reduced if it begins before age 62.4

http://www.senate.gov/reference/resources/pdf/RL30631.pdf

don't tell me a falsehood in order to get me excited.

[LiberalAndProud]

2. Did you know that federal judges retire at full salary compensation for life?

Entitlements. What we should be talking about.

[SDuderstadt]

3. If you run for Congress and win twice

you only serve 4 years. Your link is kinda generic.

[Bluenorthwest]

7. That i s true of the House but run for Senate once it is 6 years.

The head of the Cat Food Commission, for example, gets and takes all of those benefits, for he was a Senator. They all take it, all of them.

[CreekDog]

12. they don't get full retirement after 5 years

they have to be retirement age and 5 years gets them a pension payment of 8.5% of their salary.

is 8.5% full retirement?

if you have to wait years until retirement, does that make the OP false?

as a matter of fact, yes it does.

[Loki]

4. When common citizens get it, then they can have it.

Time to put a stop to congressional and judicial welfare queens.

[proud2BlibKansan]

5. I am vested after 5 years also. Every worker should be.

Congress isn't getting anything special. Unless you believe no one should be vested.

[n2doc]

6. Takes 25 years in the GA educational retirement system n/t

[proud2BlibKansan]

17. There's a difference between being vested and being eligible for retirement

We have to work till we're 49 or 50 to be eligible for retirement benefits. But you are vested after 5 years in the system.

[CreekDog]

15. and after 5 years, you get 8.5% of your salary (but not until retirement age)

so if you start at age 33, leave congress at 38.

at age 56 you can start collecting that 8.5% of your salary, but the medical benefits are probably worth more than that (but i think your share is almost 30% of the premium).

the only way to retire sooner is disability retirement and you don't get full benefits that route.

i think 20 years gets you a pension payment of 34% of your salary.

[midnight]

8. Hmmm this is so interesting....

[CreekDog]

9. No you can't retire after 5 unless you're disabled and full benefits take longer to earn than that

you're giving the impression that they get elected at 33, leave at 38 and get medical benefits after that. that's only if they are retired, which you can't do until 55 and if you only work 5 years, your pension payment is going to be small and will come 17 years later.

i think you're misleading people.

[SDuderstadt]

13. Agreed...

yet the outrage from DU's shoot-first, ask-questions-later brigade is a hoot. I wonder how many of them will repeat this canard without bothering to fact-check it first.

[CreekDog]

14. I hate agreeing with you

but what can i say? :shrug:

:rofl:

[SDuderstadt]

16. Well, bite your lip and do it...

anyway.

[CreekDog]

10. people are recommending your post but your post is false --you should know better

http://www.opm.gov/retire/faq/pre/faq11.asp

Federal Employees Retirement System (FERS)

There are four categories of benefits in the Federal Employees Retirement System (FERS) Basic Benefit Plan:

Immediate | Early | Deferred | Disability

Eligibility is determined by your age and number of years of creditable service.

In some cases, you must have reached the Minimum Retirement Age (MRA) to receive retirement benefits. Use the following chart to figure your Minimum Retirement Age.
If you were born Your MRA is
Before 1948 55
In 1948 55 and 2 months
In 1949 55 and 4 months
In 1950 55 and 6 months
In 1951 55 and 8 months
In 1952 55 and 10 months
In 1953 through 1964 56
In 1965 56 and 2 months
In 1966 56 and 4 months
In 1967 56 and 6 months
In 1968 56 and 8 months
In 1969 56 and 10 months
In 1970 and after 57
Top of Page
Immediate Retirement

An immediate retirement benefit is one that starts within 30 days from the date you stop working.

If you meet one of the following sets of age and service requirements, you are entitled to an immediate retirement benefit:
Age Years of Service
62 5
60 20
MRA 30
MRA 10

If you retire at the MRA with at least 10, but less than 30 years of service, your benefit will be reduced by 5 percent a year for each year you are under 62, unless you have 20 years of service and your benefit starts when you reach age 60 or later.
Top of Page
Early Retirement

Refers to special eligibility rules as follows:

The early retirement benefit is available in certain involuntary separation cases and in cases of voluntary separations during a major reorganization or reduction in force. To be eligible, you must meet the following requirements:
Age Years of Service
50 20
Any Age 25
Top of Page
Deferred Retirement

Refers to delayed payment of benefit until criteria are met, as follows:

If you leave Federal service before you meet the age and service requirements for an immediate retirement benefit, you may be eligible for deferred retirement benefits. To be eligible, you must have completed at least 5 years of creditable civilian service. You may receive benefits when you reach one of the following ages:
Age Years of Service
62 5
MRA 30
MRA 10

If you retire at the MRA with at least 10, but less than 30 years of service, your benefit will be reduced by 5 percent a year for each year you are under 62, unless you have 20 years of service and your benefit starts when you reach age 60 or later.
Top of Page
Disability Retirement

Disability Federal Employees Retirement System (FERS) Annuity Requirements

Age


Years of Service

Any Age


18 months

Special Requirements: You must have become disabled, while employed in a position subject to FERS, because of a disease or injury, for useful and efficient service in your current position. The disability must be expected to last at least one year. Your agency must certify that it is unable to accommodate your disabling medical condition in your present position and that it has considered you for any vacant position in the same agency at the same grade/pay level, within the same commuting area, for which you are qualified for reassignment.

[Kablooie]

18. You're right. I should have checked it out more. And the term of office, sheesh...

I realized right after leaving the house that I was thinking of the President and not Congress when I wrote that.
Ah well.

It just surprised me because in my field you can get retirement benefits but you've got to work pretty solidly for 30 years before you're vested.

Thanks for the detailed explanation.

[CreekDog]

19. Thanks for hearing me out

:fistbump:

[nadinbrzezinski]

20. Congress three terms, they are two year terms

Senate, one term.

They are also prorated... so you only get full benefits after twenty years.