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Reply #93: They are on social security. Every member of congress has, [View All]

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24601 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-19-11 05:41 PM
Response to Reply #63
93. They are on social security. Every member of congress has,
since 1985, contributed to social security whether they are under the old (1984 & before) or new retirement systems.

Civil servants in CSRS (Pre-1985) were not required to convert to FERS and those who opted to remain in CSRS do not contribute to social security. Their retirement system, to which they contribute 6 or 7 percent of their salary is solvent & in good shape.

When the civil service converted to FERS for those hired after 1984, the government anniuty was cut by 50% and we try to make up for that by contributing to social security and contributing up to 15% of our pay to the thrift savings plan. Our employer (the civil service) contributes 1% and will match up to 5%.
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