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Author: jhbusbee Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75381  
Subject: PAY FOR YOUR RETIREMENT Date: 3/21/2001 7:58 PM
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Hi,

Anyone out there know if this is true?
Julius

Subject: Pay for your retiement

Our Senators and Congressmen do not pay into Social Security, and, of
course, therefore they do not collect from it. Social Security benefits were
not suitable for persons of their rare elevation in
society. They felt they should have a special plan for themselves. Many
years ago they voted in their benefit plan. In more recent years, no
congress person has felt the need to change it. After all, it is a great
plan.

For all practical purposes their plan works like this.
When they retire, they continue to draw their same pay until they die,
except it may be increased from time to time by the cost of living
adjustments.

For example, former Senator Bradley, and his wife,
may be expected to draw $7,900,000.00, with Mrs. Bradley drawing $275,000.00
during the last year of her life. This is calculated on an average life span

for each. Their cost for this excellent plan is $ "0," nada, zilch.

This little perk they voted in for themselves is
free to them. You and I pick up the tab for this plan.
This fine retirement plan funds come directly from
the General Funds. Our tax dollars at work! Social Security, which you and I
pay into every payday for our own retirement, with an equal amount matched
by
our employer, we can expect to get an average of $1,000.00 per month from
our Social Security plan. Or, we would have to collect our benefits for 681
years and 1 month to equal the Bradley's benefits.

Imagine for a moment that you could structure a
retirement plan so desirable that people would have extra amounts deducted
from their pay to enhance their own personal retirement income. A retirement
plan
that worked so well, that Railroad Employees, Postal Workers, and others who
were not in the plan would clamor to be included.

This is how good Social Security could be, if only
one small change were made. That change would be to jerk the Golden Fleece
Retirement Plan out from under the Senators and Congressmen. Put them into
the Social Security plan with the rest of us. Then watch how fast they would
fix it!!!

If you liked this send it to everyone you know.
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Author: L2J Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 28568 of 75381
Subject: Re: PAY FOR YOUR RETIREMENT Date: 3/21/2001 9:49 PM
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I can't confirm all to be true but I do know that your (and my) elected officials in Washington do not pay into nor collect ss.

HaGD, L2J

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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 28569 of 75381
Subject: Re: PAY FOR YOUR RETIREMENT Date: 3/21/2001 10:29 PM
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L2J informs,

I can't confirm all to be true but I do know that your (and my) elected officials in Washington do not pay into nor collect ss.

I'm afraid that's not true. Congress has been paying into Social Security since 1984.

"Federal civilian employees, including members of Congress, were covered by Social Security by P.L. [Public Law] 98-21 in 1984. "

intercst




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Author: jrr7 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 28577 of 75381
Subject: Re: PAY FOR YOUR RETIREMENT Date: 3/22/2001 10:49 AM
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Congress will always make sure its own are well cared for. Short-sighted, quick-fix, emotionally based, longshot articles like the one you posted only serve to get people riled up and make them think they're accomplishing something.

Folks who go to Congress don't do it for the money. They do it for the power. The money is just gravy.

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Author: Ringfinger Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 28581 of 75381
Subject: Re: PAY FOR YOUR RETIREMENT Date: 3/22/2001 12:35 PM
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I have seen this posting before. People usually get riled up when they see it. I am not sure how true it is, though.

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Author: L2J Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 28586 of 75381
Subject: Re: PAY FOR YOUR RETIREMENT Date: 3/22/2001 8:35 PM
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Thanks John, thats what I get for passing on third hand information without verifying the background or source.

HaGD, LC

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