Congressmen & Senators Get Salaries For LIFE??????????????????

I was told that all Congressmen & Senators (once they've served 6 years), receive a salary for the rest of their lives. This seems absurd & obscene to me - a waste of money (especially when the receivers are already wealthy) - something I thought was reserved for presidents (and I think there should be a time limit set on them). I asked my husband why "We The People" can't get something on the ballot to change this & he said because "they make the rules".

Has it always been this way (where they receive lifetime salaries)? How can "We The People" put an end to this madness?

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We need to put an end to ALL pension madness. Working for 6-20 years and getting paid handsomely for the rest of your life? With pensions that include COLAs and health care provisions? RIDICULOUS!

....flesh that out a bit. It's not as exorbitant as it sounds...

http://www.senate.gov/reference/common/faq/retirement_for_members.shtml
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.
Read a report that provides more detail on retirement benefits for members of Congress.

Members of the House and Senate (unless in the leadership) receive $174,000 a year. The Speaker of the House receives $223, 500, and the heads of both Parties in each branch of the legislature recieves $193,400 a year, http://usgovinfo.about.com/od/uscongress/a/congresspay.htm. When you look at these base salaries, a pension of $52,000 a year does not seem out of line. And Congressmen (unlike most civil servants) will do well no matter what retirement system they use.

I checked this out. These members of Congress can also put up to 5% of their salary into the Thrift Savngs Plan, and it will be matched by federal funds. That is $8,500 a year matched with $8,500 from the government. Not a lot, but since they know who will do well (or they can ensure they do well), their "investments" should do quite well over the years. If we knew where their money was going we could also feather our nests.

Old South End Broadway

$52,464, and $46,932 both beat the hell out of what I get for 32 years working in a nice, hot sweaty, auto factory, by a long way.

"We're all riding on the Hindenburg, no sense fighting over the window seats"-Richard Jenni

They want to cut social security and medicare etc. They have the nerve and no concious to do this when they only have to be working 6 years and they receive more in a pension then anyone rec's after a lifetime of working. Most pople that rec social security still have to work when the retire and get SS because they cannot live the Monthly checks from ss they are so small., Why do these people that have more money and rec more money and continually raise their own yearly salaries have such power to take away from the ones who don't have enough to live on as it is. And keep taking more for themselves .. Unbelievable

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