Congressional pension is a pension made available to members of the United States Congress. Members who participated in the congressional pension system are vested after five (5) years of service. A full pension is available to Members 62 years of age with 5 years of service; 50 years or older with 20 years of service; or 25 years of service at any age. A reduced pension is available depending upon which of several different age/service options is chosen. If Members leave Congress before reaching retirement age, they may leave their contributions behind and receive a deferred pension later.^[1] A pension is a steady income given to a person (usually after retirement). ... Type Bicameral Houses Senate House of Representatives United States Senate Majority Leader Harry Reid, D since January 4, 2007 Speaker of the House Nancy Pelosi, D since January 4, 2007 Members 535 plus 4 Delegates and 1 Resident Commissioner Political groups (as of November 7, 2006 elections) Democratic Party Republican...

Pension amount

The pension amount is determined by a formula that takes into account the years served and the average pay for the top three years in terms of payment. In 2002, the average pension payment ranged from $41,000 to $55,000. For example, a Congressman who worked for 22 years and had a top three-year average salary of $153,900 would be eligible for a pension payment of $84,645 per year.^[2]

Average annuity

The average annuity for retired Members, as of 1998, was either $50,616 [for those that retired under CSRS] or $46,908 [for Members who retired under FERS. Nevertheless, these averages don't take into account any additional funds these Members also may have accrued through investments in the Thrift Savings Plan. Thrift Savings Plan The Federal Thrift Savings Plan, or TSP, is a retirement savings plan for civilians who are, or previously were, employed by the United States Government and for members of the uniformed services. ...

Controversy

In 2003, after James Traficant was expelled from Congress, several Congressmen tried passing a bill that would prevent expelled members from receiving their pensions. The bill was stalled and eventually dropped after being sent to the House Administration and Reforms committee for review.^[3] James Anthony Traficant, Jr. ... A bill is a proposed new law introduced within a legislature that has not been ratified, adopted, or received assent. ... The United States House Committee on House Administration deals with the general administration matters of the United States House of Representatives. ...

Long time congressman Ron Paul has always refused to participate in the congressional pension system, labeling it "immoral".^[4] Ronald Ernest “Ron” Paul (born 20 August 1935) is a 10th-term Congressman, medical doctor (M.D.), and a 2008 presidential candidate from the U.S. state of Texas. ...

Federal pension forfeiture act

Unofficially known as the 'Duke Cunningham Act', the Federal Pension Forfeiture Act is a piece of legislation introduced by Senators John Kerry (D-MA) and Ken Salazar (D-CO) that would cause a Congressman to lose his pension due to: Randy Duke Cunningham speaking January 2005 Randall Harold Duke Cunningham (born December 8, 1941), usually known as Randy or Duke, is a Vietnam veteran, convicted felon and a former Republican member of the United States House of Representatives from Californias 50th Congressional District from 1991 to 2005. ... Al Gore (born December 11, 1943) is a Vietnam Veteran and the junior United States Senator from Massachusetts. ... This article needs additional references or sources to facilitate its verification. ... Official language(s) English Capital Boston Largest city Boston Area  Ranked 44th  - Total 10,555 sq mi (27,360 km²)  - Width 183 miles (295 km)  - Length 113 miles (182 km)  - % water 13. ... Kenneth Lee Salazar (born March 2, 1955) is an American politician, rancher, and environmentalist from the U.S. state of Colorado. ... Official language(s) English Capital Denver Largest city Denver Area  Ranked 8th  - Total 104,185 sq mi (269,837 km²)  - Width 280 miles (451 km)  - Length 380 miles (612 km)  - % water 0. ...

• Bribery of public officials or witnesses
• Conspiracy to commit offense or to defraud the United States
• Perjury while denying the commission of bribery or conspiracy
• Subordination of perjury committed in connection with false denial or false testimony of another individual^[5]

References