With the average retired citizen getting ~$18,000 per year from social security, we thought that we should look at what the power elites in Congress get paid for their pension. [That is, IF they ever retire from the gravy train]
Here is a link to the average citizen’s social security payments: https://www.ssa.gov/news/press/factsheets/basicfact-alt.pdf
We discovered a very informative website called openthebooks.com. They provide a plethora of statistics about Congress. We did discover that Congressional pension benefits are not subject to the Freedom of Information Act (FOIA), and therefore, probably fall under Exemption 2 (of 9 exemptions listed). Isn’t it great when you get to write the rules to provide cover for yourself? They have no shame!
- Exemption 2: Information related solely to the internal personnel rules and practices of an agency.
Wikipedia does provide a nice history of the annual Congressional salaries. It does not contain the income derived by the family members of the Congressmen or Senators when they may be on boards of oil and gas companies, etc. And, of course, the money laundering of foreign aid money paid to countries, and then routed back in a circuitous route to the various PAC’s is not included. Needless to say that it is also silent on the money received from lobbyists. https://en.wikipedia.org/wiki/Salaries_of_members_of_the_United_States_Congress
Here is a Forbes and Openthebooks article about Congress and their pensions:
Excerpts from the article:
“Membership in the U.S. Congress is an exclusive club that comes with lucrative, taxpayer-funded privileges. Retirement perks include a lifetime pension and a taxpayer-matched savings plan with taxpayer-paid contributions of up to five percent of salary. “
“As the longest-serving member of Congress, Sen. Patrick Leahy (D-VT) would qualify for a yearly pension of $167,040 if he retired today. Former speaker Paul Ryan (R-WI) was eligible to draw a $84,930 pension when he turned 50 in January after serving for twenty years and retiring at age 48.”
“House Speaker Nancy Pelosi (net worth est. $50 million to $72 million): She’ll reap nearly $153,967 a year in public pension and social security benefits at retirement. In addition, Pelosi could cash out an estimated $1 million lump sum through her federal saving account – and that’s just the portion of the account that was taxpayer-funded.”
“Critics question the necessity of such a system. Why are U.S. taxpayers providing public pensions to millionaire members of Congress on top of a 401(k)-style plan? (The median net worth for a member recently exceeded $1.1 million.)”
“In retirement, McConnell can cash out the estimated $1.1 million – as a one-time lump sum or as he wishes. Then, there is his lifetime pension payout. The researchers at the National Taxpayers Union pegged McConnell’s pension and annuity package at $142,902 annually, if he retired after the November election. McConnell (age 78) qualifies for a $96,738 pension, and he’s also eligible for social security amounting to an additional $46,164 each year.”
From a Google search we discovered this:
“Congressmen don’t reap their annual salary for life. They do receive generous retirement benefits though. … By federal law, senators and representatives cannot earn their full salary in retirement. The most a congressman can earn after the leave office is 80% of their final salary. Dec 10, 2019″
This brings us to the matter dealing with our Congressman David Joyce. You know him…the average guy….wants to be called “Just Dave”. Why he is just like us…We contacted his office three times to ask him what his pension benefits are…..CRICKETS….
They are avoiding us like we are lepers, or even worse have…Covid-19.
Well, if he will not tell us, then we are left to speculate….let’s see..
Current salary is $174,000 x 80% = $139,200 plus social security….So Davey is going to be just fine in retirement, and we have not even added in his 401K or medical benefits.
Davey will be living large while the peons, the serfs are living on $18,000 a year, and being priced out of their homes because of ever-increasing property taxes.
AT WHAT POINT WILL THE AVERAGE CITIZEN WAKE UP AND DEMAND REPRESENTATIVES THAT MUST ABIDE BY THE SAME RULES AND REGULATIONS?