U.S. Congress salaries and benefits

[HURRICANEBOB]

In summary, high 6 figure salaries.

Rank-and-File Members:
The current salary (2011-2012) for rank-and-file members of the House and Senate is $174,000 per year.

Senate Leadership
Majority Party Leader - $193,400
Minority Party Leader - $193,400

House Leadership
Speaker of the House - $223,500
Majority Leader - $193,400
Minority Leader - $193,400

A cost-of-living-adjustment (COLA) increase takes effect annually unless Congress votes to not accept it.

Benefits Paid to Members of Congress

You may have read that Members of Congress do not pay into Social Security. Well, that's a myth.

Prior to 1984, neither Members of Congress nor any other federal civil service employee paid Social Security taxes. Of course, they were also not eligible to receive Social Security benefits. Members of Congress and other federal employees were instead covered by a separate pension plan called the Civil Service Retirement System (CSRS). The 1983 amendments to the Social Security Act required federal employees first hired after 1983 to participate in Social Security. These amendments also required all Members of Congress to participate in Social Security as of January 1, 1984, regardless of when they first entered Congress. Because the CSRS was not designed to coordinate with Social Security, Congress directed the development of a new retirement plan for federal workers. The result was the Federal Employees' Retirement System Act of 1986.

Members of Congress receive retirement and health benefits under the same plans available to other federal employees. They become vested after five years of full participation.

Members elected since 1984 are covered by the Federal Employees' Retirement System (FERS). Those elected prior to 1984 were covered by the Civil Service Retirement System (CSRS). In 1984 all members were given the option of remaining with CSRS or switching to FERS.

As it is for all other federal employees, congressional retirement is funded through taxes and the participants' contributions. Members of Congress under FERS contribute 1.3 percent of their salary into the FERS retirement plan and pay 6.2 percent of their salary in Social Security taxes.

Members of Congress are not eligible for a pension until they reach the age of 50, but only if they've completed 20 years of service. Members are eligible at any age after completing 25 years of service or after they reach the age of 62. Please also note that Members of Congress have to serve at least 5 years to even receive a pension.

The amount of a congressperson's pension depends on the years of service and the average of the highest 3 years of his or her salary. By law, the starting amount of a Member's retirement annuity may not exceed 80% of his or her final salary.

[DJD]

So does this mean they are not wealthy? Didn't Obama say 250k annual salary was wealthy??? Of course most of these guys have millions and have folks investing for them and accountants taking every tax break available but hey that's ok. They can do it since they are royalty. Idiots. Sorry Bob for sidestepping your original post I just get pissed at the bungholes and the sheep that follow along.

[waterdog101]

Members of Congress are not eligible for a pension until they reach the age of 50, yet congressman Ryan and Mitt. were going to raise the retirement age, for all other people in this country to age 67. how about that, for caring about the American worker. wanting to keep us at the grinding wheel 17 years longer than they have to.

[jcb]

President Obama just sweetened those meager salaries a bit.

[waterdog101]

President Obama just sweetened those meager salaries a bit.

do you have a link for this?

[DJD]

President Obama just sweetened those meager salaries a bit.

Sooooo not agreeing with this. They absolutely sukk at their job. The worst in years and years....laws that have done harm and inactivity that would have had them fired anywhere else. Yeah anyone in Congress needed a raise. Idiot Obama!

[DJD]

Members of Congress are not eligible for a pension until they reach the age of 50, yet congressman Ryan and Mitt. were going to raise the retirement age, for all other people in this country to age 67. how about that, for caring about the American worker. wanting to keep us at the grinding wheel 17 years longer than they have to.

Obama appointed a bipartisan deficit commission and they recommended that. I guess it's easier to bolster your belief that only GOP members make stupid/hard decisions but I'm not so sure it went down the way you say. I think it stinks and I think ALL of congress is crooked and ***** not just the Libs. Although I think their liberal ways and tendencies are bad and especially now.

[jcb]

do you have a link for this?

Click on the word "sweetened".

[waterdog101]

Click on the word "sweetened".

thanks for the link, interested read. it wasn't as big of a bump as I expected, I guess the old saying holds true, .....birds of a feather flock together.