Congressional Retirement"

Discussion in 'VMBB General Discussion' started by inplanotx, Mar 8, 2003.

  1. inplanotx

    inplanotx Active Member

    Jan 28, 2002
    *VMBB Staff*
    Posts: 33
    (2/10/02 7:36:41 pm)
    Reply Congressional Retirement"
    Congressional Retirement"
    Our Senators & Congressmen do not pay into Social Security and therefore, they do not collect from it. Social Security benefits were not suitable for them. They felt they should have a special plan. Many years ago they voted in their benefit plan. In more recent years, no congress person 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 no matter how long they have been in office, they continue to draw their same pay until they die, except it may be increased from time to time by the cost-of-living adjustments. For example, former Senator Bill Bradley (New Jersey) and his wife may be expected to draw $7,900,000.00 over an average life span, with Mrs. Bradley drawing $275,000.00 during the last year of her life. Their cost for this excellent plan is "0," nada, zilch. This little perk they voted in for themselves is free to them. You and I pick up the tab for this plan. Our tax dollars at work! Social Security, which you and I pay into every payday for our own retirement, with an equal amount matched by our employer, we can expect to get an average of $1,000 per month. Or, we would have to collect our benefits for 68 years and 1 month to equal the Bradley's benefits. Imagine for a moment that you could structure a retirement plan so desirable, a retirement plan that worked so well, that Railroad Employees, Postal Workers, and others who were not in the plan would clamor to be included. This is how good Social Security could be, if only one small change was made. That change would be to jerk the Golden Fleece Retirement Plan out from under the Senators & Congressmen. Put them into the Social Security plan with the rest of us. Watch how fast they fix it!!! If enough determined and thinking people would become active in our system; knowing who and what they vote for; good changes can and will evolve. Don't forget, our girl, Hillary Rodham Clinton, thanks to the infinite wisdom of New York State voters, now comes under this Congressional Retirement Plan. Talking about the Clintons, it's common knowledge that, in order for her to establish NY residency, they purchased a million+ house in upscale Chappaqua, NY. Makes sense. Now, they are entitled to Secret Service protection for life. Still makes sense. Here is where it becomes interesting!! A residency had to be built in order to house the Secret Service agents. The Clinton's now charge the Secret Service rent for the use of said residence and that rent is just about equal to their mortgage payment, meaning that we, the tax payers, are paying the Clinton's mortgage and it's all perfectly legal. What a Country! You gotta luv it! Is Everybody Happy?????????

    *VMBB Staff*
    Posts: 106
    (2/10/02 7:52:12 pm)

    Re: Congressional Retirement"
    Not to be disagreeing with you but I think you'll find that the Congressional people do have to pay a portion into social security these days. Doesn't mean they don't get way too much money in retirement (and they dont have to work 30 years to get it), but it's not quite what you are portraying.

    However, it used to be just exactly as you've written.