Congress, Retirement, and Social Security

I received an email from a friend telling me of the lavish retirement plan our Congressional leaders get. I checked it out and, according to Snopes, this is false. The members of Congress who were elected after 1983 pay in to Social Security. In additon to Social Security they are covered under the Federal Employee Retirement System. Those who were around prior to 1983 did not pay into SS and get a different retirement. The thing is, they have the option of contributing up to 13 or 14% of their income to this nifty retirement. This is what President Bush was talking about in the SOTUA.

Most people who retire and get SS can expect to get about $1000 per month or $12,000 per year. Even if they hit the jackpot and got $2000 a month it would only be $24,000 per year.
The average Congressman can expect to get about $46,908 per year under their plan (about $50,00 under the old system). This is roughly $4000 per month. The President wants us to be able to obligate up to 4% of the money we spend for SS to our own accounts. This will give us higher earning potential and give us more in retirement while preserving the system for those who are already on it.

Why is it that we are not given the same opportunities as the Congressmen? They work for us yet they will not allow us to have the same earnings for retirement that they enjoy. To add insult to injury, they will probably be able to draw SS at the same time. It is time for people to wake up and see the good that can come from allowing us to invest our money on our own behalf.

I told you before. The members of Congress think they are better than we are. We are beneath them and they deserve better. This is hogwash. We are their employers and our tax dollars fund them. Remember, they do not pay our salaries, we pay theirs. People need to write to their Congressional leaders and urge them to support Social Security reform and private investments for the real working class.

You can read the bogus retirement story and the facts here.



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