Congressional Pension Plans

Now that Gov. Palin has proven it doesn’t take much to qualify for elected office, perhaps I should be looking at a career in politics.  Actually I should have started a few years ago so I could collect a nice little pension upon retiring.

Did you know that members of congress can retire with a pension at age 62 and 5 years of service?  Or if they have 20 years of service, they can retire at age 50, or at any time with 25 years?  Not too shabby.  The formula is based on salary and years of service, but what got me interested was this recent article claiming that Rep. George Miller (D-CA) could retire and receive $122,000 per year in pension!  And congressional pensions are eligible for annual COLAs so they should be able to live quite comfortably into their dotage.

It sounds as though congress has provided quite well for themselves – hefty raises, flush pensions, and a gold-plated health insurance plan.  Too bad they don’t think the rest of us deserve what they have.


One Response to “Congressional Pension Plans”

  1. Don’t forget that you can be a Ted Stevens and still draw a $120,000+ pension for being a crook!

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