A question about elected Congressman and Senators

[MessiahRp]

A friend of mine asked a very good question that had several parts to it. Maybe some of you smart people know the answer for me.

It's all related to elected officials and their pensions.

Basically it's this.

1. How long does an elected official have to serve to receive a permanent federal pension, and how long after they are out of office does it kick in?

2. How much do we pay each (Congressmen and Senators) in yearly pension totals?

The reason this seems to peeve my friend is because they'd like to know exactly how much we pay our elected officials for how little they do or how little amount of time they work for us. Especially since many of them are trying to attack us, the regular people's retirements with their Social Security gutting plans.

Answers would be appreciated. :)

Rp

[kentuck]

1. I think I read someplace....?

that they get a good portion of their pension after 3 terms (6 years)? I could be wrong about that...

[dweller]

3. i thought it was a single term n/t

n/t b/c i have no data to back it up, just what i've read here and else where.

i'm too lazy to look.
dp

[seventythree]

2. My understanding

is that in 1984 all new federal employees were put onto the SS system. So the Congressperson would get SS like the rest of us when they reach 62/65/6/7, depending on age. Now, I also believe that all federal employees are also allowed to put away so much money in a pension system, but I don't know exactly how this works, like an IRA, I am assuming, but maybe it works like a 401K with a match, or maybe it's just an old fashioned pension system -- just not sure.

[dweller]

4. somehow i don't think you got your answer

:kick:


dp

[MessiahRp]

5. Kick for an answer. :) n/t

[ISUGRADIA]

6. Here's one source

http://www.c-span.org/questions/weekly68.htm

Members who have participated in the congressional pension system are vested after 5 years of service. A full pension is available to Members 62 years of age with 5 years of service; 50 years or older with 20 years of service; or 25 years of service at any age. A reduced pension is available depending upon which of several different age/service options is chosen. If Members leave Congress before reaching retirement age, they may leave their contributions behind and receive a deferred pension later.

....