So you’re going to knock the pampered, feeding at the trough, government worker down from their elitist taxpayer draining high horse huh? Well I’m sure it’s just a matter of time before you ask your elected officials to feel our pain too, right?
No? Think again tea party know it all:
(Insider Report email from Newsmax.com) Congress Retirement Benefits: 5 Times the Private Sector-A member of Congress receives retirement contributions of about 33 percent of pay each year — five times as much as a private sector worker in a large company.
Writing for the Journal of the American Enterprise Institute, Andrew Biggs calculates that a retired member of Congress receives a pension equivalent to 22.4 percent of wages. Altogether members of Congress receive around 33.4 percent of pay in retirement benefits.
Private sector workers at firms with at least 1,000 employees receive total retirement compensation of around 6.4 percent of pay, Biggs says, so “annual retirement contributions for a member of Congress exceed those for private sector employees by a factor of five.”
If you’re into raising the retirement age for Americans, which is essentially a reduction in benefits, get a load of this:
Members of Congress can receive retirement benefits as early as age 50, depending on their length of service. They currently get a salary of $174,000 a year, plus offices and staff, and congressional leaders receive more compensation.
Biggs states: “We shouldn’t come away from this with a conclusion other than that congressional retirement benefits — like federal employee benefits in general — are far more generous than those a typical private sector worker receives.”
I’m ready to protest spreading the pain of the private sector, are you?
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