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Congress Has Great Retirement Benefits

Here's an article that explains some of the benefits our elected officals receive.

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Members of Congress occasionally lose elections, but they never lose retirement and health benefits that most Americans can only envy.

A lawmaker who retires at 60 after just 12 years in office can count on receiving an immediate pension of $25,000 a year and lifetime benefits that could total more than $800,000.

That doesn't include 401(k) benefits. And any member who lasts five years in office also can get taxpayer-subsidized health care until he or she reaches Medicare age.

"I don't think that many people in Congress would be quite so indifferent to the demise of the defined-benefit plan if they didn't have such a robust plan themselves," said James Klein, president of the American Benefits Council, which represents companies with pension plans.

Posted on Wednesday, April 19 by Registered CommenterWise Owl | Comments Off