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CONGRESS & THEIR RETIREMENT PLANS
posted at October 22, 2011 4:48 PM EDT
First: February 29, 2008
Last: May 17, 2013
Do you believe the following salary--benefits is necessary in order to encourage people to run for office out of the private sector ?
The amount of a congressperson's pension depends on the years of service and the average of the highest 3 years of his or her salary. By law, the starting amount of a Member's retirement annuity may not exceed 80% of his or her final salary.
According to the Congressional Research Service, 413 retired Members of Congress were receiving federal pensions based fully or in part on their congressional service as of Oct. 1, 2006. Of this number, 290 had retired under CSRS and were receiving an average annual pension of $60,972. A total of 123 Members had retired with service under both CSRS and FERS or with service under FERS only. Their average annual pension was $35,952 in 2006. US GOVT INFO