PFRDA

What response do you give to Congress' Pension Plan???

Read this and respond: NEW YORK (CNNMoney.com) - In the coming months, you are going to read a lot of stories on our site about pensions and attempts by Congress to "reform" the system. No doubt there will be a lot of sound bites from various Congress folk ... some "outraged" by the loss of pensions and others pointing to "economic reality" while professing sympathy for the working American. Amid all the hubbub, keep this in mind: Congress has a pension plan ... and it's not at risk. It's a fairly nice one, too. Not extravagant, but nice. Members are eligible to start collecting at age 62 if they have at least five years of service. If they have 20 years of service under their belt, they can retire at 50. With 25 years of service, they can retire any time. What they get depends on a formula based on years of service and average pay(natch, right?). So a congressman with 22 years of service and whose average salary for the top three years was $153,900 gets $84,645. A

Public Comments

1. They don't deserve pensions or salaries. Most of them are on the payroll of at least 3 foriegn countries and 3 Defense Contractors. Daniel Ortega had a good idea in Nicaragua. He reduced his own Salary to $3,200 a year and other government officials to $3,000. Why would Billionaires like Bush, Cheyney, Kerry or Kennedy need our money
2. Congress doesnt pay into the Social Security fund either. Ironic isnt it, that they howl about any attempt to fix the social Security System, yet dont participate in it
3. Patrick, Congress does pay into Social security, they have since 1987. Congress has the exact same pension plan as every other Federal Worker does.