Eliminate Federal Pensions and Retirement Plans

Now before you get all worked up by the title I want to add a couple of more words. “For all elected employees”. I think this plan will go a long ways to prevent future gridlock that we are seeing today. Here is one of my sources that back up that idea:

Congressional members are eligible for their own unique pension plans under the Federal Employees Retirement System (FERS), though there are other retirement benefits available, ranging from Social Security and the Civil Service Retirement System (CSRS). Currently, members of Congress are eligible for a pension dependent on the member’s age at retirement, length of service, and salary.

The pension value can be up to 80 percent of the member’s final salary. Currently, Congressional pay is $174,000 per year, which, at an 80-percent rate, equates to a lifelong pension benefit of $139,200. All benefits are taxpayer-funded.

Source: Investopedia

A three-term congressman (or one-term senator) who has now reached retirement age of sixty-two would be eligible for an annual pension of $17,588 for six years of work. Let’s see, I was an engineer who worked thirty years for the same company and my pension is less than two times this amount. So, I would say that you can make out pretty well on a congressional pension.

Getting down to the roots of this post. Our founders never meant that representing your constituents in Congress to be a full-time job. It was just something that you did to fulfill your obligations to your country. The first president illustrated that by limiting his occupancy to two terms.

Secondly, Congress should mirror the private sector when it comes to these sorts of things. Since private sector pensions are pretty much a thing of the past, federal pensions should also be eliminated. Just give them 401k payments like the rest of us have. In that same area, Congress should not have their own healthcare plan that are so out of touch with what their constituents get.

The problem today is that there are just too many in our congress who are determined to make being a congressman a full time job. If we could just get one of those guys, specifically Mitch McConnel to finally leave maybe at least some level of gridlock would be finally eliminated.

Making term limits happen is the problem. It takes either a constitutional amendment initiated by the State or for Congress to overwhelmingly do it. Neither is likely to happen today. But Congress is not the only institution that needs term limits. Supreme Court Justices should be told to leave after they have served twelve years.

Let’s give power back to the people instead of keeping it entrenched in the powermongers in Washington.