Message Font: Serif | Sans-Serif
No. of Recommendations: 1
I wonder if anyone can confirm the following message I received recently -- primarily, is it true that our "representatives of the people" do not pay into social security (nor receive benefits) or a retirement plan and, upon retirement they continue to receive the same salary? Someone tell me this is not true before I have a coronary!

> Our Senators and Congressmen don't pay in to Social
> Security, and, of course, they don't collect from it.
> The reason is that they have a special retirement plan
> that they voted for themselves many years ago. For all
> practical purposes, it works like this:
> When they retire, they continue to draw their same pay, until they
> die, except that it may be increased from time to time, by cost of
> living adjustments.
> For instance, former Senator Bradley, and his wife,
> may be expected to draw $7,900,000, with Mrs. Bradley
> drawing $275,000 during the last year of her life. This is
> calculated on an average life span for each.
> This would be well and good, except that they paid nothing
> in on any kind of retirement, and neither does any other
> Senator or Congressman.
> This fine retirement comes right out of the General Fund: our
> tax money. While we who pay for it all, draw an average of
> $1000/month from Social Security.
> Imagine for a moment that you could structure a retirement plan so
> desirable that people would have extra deducted so that they could
> increase their own personal retirement income. A retirement plan
> that works so well, that Railroad employees, Postal Workers, and
> others who aren't in it, would clamor to get in.
> That is how good Social Security could be, if only one small change
> were made. That change is to jerk the Golden Fleece retirement
> out from under the Senators and Congressmen, and put them in
> Social Security with the rest of us. Then watch how fast they fix it.
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.