Union type benefits at taxpayers expense

[ugonow]

Nice job if you can get it---www.rollcall.com/issues/56_80/-203229-1.html

[Savoir Faire-Demogague in NJ]

$26 million is chicken feed. It averages to roughly $57,100 for each of the 455 former congressional members noted in the article.

The article went on to say a member had to remain in Congress for five years to receive a benefit. I skimmed the article but it also seems that longevity also plays some sort of role in determining pension payout. A congressmen holding office for 30 years would receive much more than one who served for 6 years.

[ugonow]

<<Congress last reformed its pension program in the mid-1980s. Members elected after 1984, like other federal employees, are covered by the Federal Employees Retirement System, which comprises Social Security payments, a monthly pension based on tenure and pay history, and the Thrift Savings Plan, which is similar to private 401(k) accounts.>>> ------ Most private companies dumped their pension plans in favor of 401's. IMO, these guys better start walking the walk instead of talking the talk .

[workpublic]

why is there a pension available for what is supposed to be a part time civic duty?

[marjar]

Feb 9, 2011 12:52:58 GMT -5 ugonow said:

<<Congress last reformed its pension program in the mid-1980s. Members elected after 1984, like other federal employees, are covered by the Federal Employees Retirement System, which comprises Social Security payments, a monthly pension based on tenure and pay history, and the Thrift Savings Plan, which is similar to private 401(k) accounts.>>> ------ Most private companies dumped their pension plans in favor of 401's. IMO, these guys better start walking the walk instead of talking the talk .

Don't hold your breath.

[Deleted]

Cut them off. Maybe then we can get some real people in office that only care about the country and not their future wealth and retirement. They are out there-- can't get a foot in the big door unless they have the $$$$ behind them. Criticizing people like Palin or WHOEVER for writing books, etc.... you have to have the $$$$$ to get to Washington in the first place. Then it is all a crapshot if you will be one of the chosen.

[fairlycrazy23]

I don't think elected officials should get any pensions. And actually I think government should really not provide any benefits that extend past your employment, that is not to say the couldn't help contribute to your own personal retirement fund like private companies, but the government should not be promising to pay you after you are no longer working for them, the this be handle by a third party.

[ugonow]

Some of these guys are collecting multiple pensions from different fed and local governments.We have a local politician crying about union pensions [which on a government employer basis needs to be dealt with] and is collecting 6 government pensions between himself and his wife. IMO,if they want to appear credible,they need to look at themselves also.

[ed1066]

I cannot understand for the life of me why government employees need a union...