Tag Archives: pension

Terms Limits for Congress

Posted on January 31, 2011 by

This is something I will fight for and I hope you read it all the way through. You will be glad you did.

The 26th amendment (granting the right to vote for 18 year-olds) took only 3 months &and 8 days to be ratified! Why? Simple! The people demanded it. That was in 1971…before computers, before e-mail, before cell phones, etc.

Of the 27 amendments to the Constitution, seven (7) took 1 year or less to become the law of the land…all because of public pressure.

I’m asking all who read this to forward this post to a minimum of twenty people or more on their address lists; in turn ask each of those to do likewise.

In three days, most people in The United States of America will have the message. This is one idea that really should be passed around.

Congressional Reform Act of 2011

1. Term Limits.

12 years only, one of the possible options below..

A. Two Six-year Senate terms
B. Six Two-year House terms
C. One Six-year Senate term and three Two-Year House terms

2. No Tenure / No Pension.

A Congressman collects a salary while in office and receives no pay when they are out of office.

3. Congress (past, present & future) participates in Social Security.

All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security system, and Congress participates with the American people.

4. Congress can purchase their own retirement plan, just as all Americans do.

5. Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%.

6. Congress loses their current health care system and participates in the same health care system as the American people.

7. Congress must equally abide by all laws they impose on the American people.

8. All contracts with past and present Congressmen are void effective 1/1/11.

The American people did not make this contract with Congressmen. Congressmen made all these contracts for themselves.

Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, so ours should serve their term(s), then go home and get back to their local work.

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Privileged Classes – U. S. House and Senate Members

Posted on January 17, 2010 by

Members of Congress have a generous pension plan that for all intents and purposes insulates them from stock market fluctuations that currently threaten the retirement accounts of most of the rest of us.

U. S. House and Senate members are offered a defined-benefit pension backed by the U. S. Treasury and largely protected from market forces. According to The Associated Press, defined-benefit plans are rare, available to only 5%of private sector employees.

In fact, 46% of the private sector is offered no workplace pension of any kind, not even 401(k)s that are so at risk in today’s market and certainly not the guaranteed benefits available to Congress.

It’s no surprise that government and public employed pensions at many levels fare better than most. However, members of Congress are at the top of the heap of this privileged class of Americans.

Our federal representatives and senators are eligible after five years for full pension benefits at age 62. Better yet, those with 20 years in office can get full pensions at 50, younger than most people who really work for a living.

A full congressional pension starts at 80 %, adjusted annually for inflation, of the average of the highest three years of salary – currently $169,300 a year for the rank and file and $188,100 a year for the Senate and House majority and minority leaders.

House Speaker Nancy Pelosi rakes in the highest congressional salary, $217,400 a year, on which she continues to build her retirement nest egg. Figure her pension would start at nearly $174,00 pear, plus annual inflation thereafter, except it probably will rise higher by the time she leaves Congress.

On top of all that, members of Congress may choose to invest in 401(k) or similar retirement accounts that are not backed by the Treasury. But unlike the rest of us, these optional retirement funds are just gravy for Congress, whose members still can count on guaranteed pensions.

As the AP put it, “Despite the financial crisis…Congress has made no effort to revisit its unusually sweat retirement deal.”

Remember that when these members of the ruling class in Washington say they feel your pain or they promise to go after the pensions of greedy corporate executives who led companies to the brink of financial disaster.

How about Congress? It’s part of the privileged class that bears responsibility for what ails the nation.

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