Is it true that congress does not pay into Social Security, but draw their salaries for life on retirement?
I got this email: SOCIAL SECURITY: Our Senators and Congresswomen do not pay into Social Security and, of course, they do not collect from it. You see, Social Security benefits were not suitable for persons of their rare elevation in society. They felt they should have a special plan for themselves. So, many years ago they voted in their own benefit plan. In more recent years, no congressperson has felt the need to change it. After all, it is a great plan.For all practical purposes their plan works like this:When they retire, they continue to draw the same pay until they die.Except it may increase from time to time for cost of living adjustments.For example, Senator Byrd and Congressman White and their wives may expect to draw $7,800,000 with their wives drawing $275, 000 during the last years of their lives.This is calculated on an average life span for each of those two Dignitaries.They pay$0 for this plan. OUR TAX DOLLARS AT WORK. Meanwhile the average person SS is $1000 mo.
Public Comments
- Urban legend. Read http://www.snopes.com/politics/taxes/pensions.asp
- Yes, that's why they give themselves such hefty raises.
- Partly true, partly false. They do pay social security, well have since 1984 They do actually contribute, if you can call 1.3% a contribution to a pension that could be up to 80% of their salary. And they do get paid for life healthcare, and it is not your average American's PPO plan either. It is the government UNION workers that are going to bankrupt us all. We need to change government pensions to a 1 for 1. You get 1 year pension (after retirement age which needs to be set the same as social security age) for each 1 year served. Pensions and luxurious health care is bankrupting the American automakers. That is why they ran all their suppliers out of business. It will bankrupt the country eventually. Coming soon to a job near you! Unemployment!
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