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Welfare Question For Americans

by thunderbird
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How long does a US politician have to hold office before they can get a pension after they leave office? Do all elected officials receive pensions? How long to the pensions last? Thanks.
  • Profile picture of the author ForumGuru
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    Originally Posted by thunderbird View Post

    How long does a US politician have to hold office before they can get a pension after they leave office? Do all elected officials receive pensions? How long to the pensions last? Thanks.
    Members of Congress are eligible for a pension at age 62 if they have completed at least five years of service. They are eligible for a pension at age 50 if they have completed 20 years of service, or at any age after completing 25 years of service. The amount of the pension depends on years of service and the average of the highest three years of salary. By law, the starting amount of a member’s retirement annuity may not exceed 80 percent of his or her final salary.

    http://www.senate.gov/reference/comm..._members.shtml
    The Secretary of the Treasury pays a taxable pension to the president. Former presidents receive a pension equal to the pay that the head of an executive department (Executive Level I) would be paid, as of 2014 $201,700.The pension begins immediately after a president's departure from office. A former president's spouse may also be paid a lifetime annual pension of $20,000 if they relinquish any other statutory pension.

    http://en.wikipedia.org/wiki/Former_Presidents_Act
    Cheers

    -don
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  • Profile picture of the author ThomM
    Originally Posted by thunderbird View Post

    How long does a US politician have to hold office before they can get a pension after they leave office? Do all elected officials receive pensions? How long to the pensions last? Thanks.
    They're covered under the Federal Employees Retirement System.
    I think they have to serve for at least 4 or 5 years to be eligible. They don't automatically receive the full pension amount, but I don't remember how it's all broken down.
    When looking for presidential pension info I happened across this Frequently Asked Reference Questions that may answer some of your question.


    EDIT: What Don said.
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  • Profile picture of the author thunderbird
    It seems that Canadian politicians are similarly compensated for. I can see the incentive to get into politics now. What other professions that are so generous to former employees? Correct me if I'm wrong, but I think you could work as a dishwasher every day for 15 years and your pay would still end pretty much end as soon as you leave the job, with unemployment insurance for a limited time at best.
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    • Profile picture of the author ForumGuru
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      Originally Posted by thunderbird View Post

      It seems that Canadian politicians are similarly compensated for. I can see the incentive to get into politics now. What other professions that are so generous to former employees? Correct me if I'm wrong, but I think you could work as a dishwasher every day for 15 years and your pay would still end pretty much end as soon as you leave the job, with unemployment insurance for a limited time at best.
      It's not easy to get elected the US Congress... In-fact, many of those elected are already wealthy before they are elected. Job openings are few and.I doubt many of them are trying to get elected for the federal retirement package.

      As far as benefit packages that the private sector offers it depends on what company you are washing dishes for. Many US companies offer 401K contributions, 401K matching or similar, and many others offer straight retirement programs in which you can become vested in just a few years.

      I think my wife is vested in just 6 1/2 years at her current job.

      But...you are correct in saying you can lose everything that end of your job. For example my wife fairly recently lost her previous job that she had held as a restaurant GM She held that job for almost 17 years and when she left all she got was a small severance package and what was in her 401K account.

      Cheers

      -don
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    • Profile picture of the author HeySal
      Originally Posted by thunderbird View Post

      It seems that Canadian politicians are similarly compensated for. I can see the incentive to get into politics now. What other professions that are so generous to former employees? Correct me if I'm wrong, but I think you could work as a dishwasher every day for 15 years and your pay would still end pretty much end as soon as you leave the job, with unemployment insurance for a limited time at best.
      Our congress, senate, et al, is stuffed to the brim with opportunists who are in there for nothing but their own gain. They write laws that help them become stinking wealthy in office - then retire on ridiculously lucrative pensions.

      There is one way to keep a politician from getting pensions .................FIRE them. A recalled/impeached official loses their benefits. This is one of the resasons it completely pisses me off to see people who know their politician is corrupt beyond reason mumble about "wait until Nov". No - if they aren't upholding their oath of office, or if they are acting corruptly --- freaking FIRE them -- just like everyone else would be at thaeir jobs for exhibiting the same activities/inclinations.
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      • Profile picture of the author ForumGuru
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        Originally Posted by HeySal View Post

        Our congress, senate, et al, is stuffed to the brim with opportunists who are in there for nothing but their own gain.
        I don't know about stuffed to the brim....but certainly many of those opportunists you speak of are there.

        But let us NOT forget....a big percentage of these guys and gals were worth PLENTY of money prior to being elected.

        According to recent Census data, the median net worth of American households was $66,740 in 2010. The median net worth of the 94 lawmakers who won election in November, however, was much, much higher: $1,066,515 at end of 2011.
        Most of this money was made in the private sector...ie: Darrell Issa

        Among the richest lawmakers is Rep. Darrell Issa (R-Calif.), who made his fortune in the car alarm business and is worth about $480 million.

        Freshman Members Of Congress' Net Worth $1 Million More Than Average American Household
        In-fact it almost takes a ton of money to get elected these days. If you don't have it, chances are you won't be elected.

        Cheers

        -don
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  • Profile picture of the author TLTheLiberator
    Originally Posted by thunderbird View Post

    How long does a US politician have to hold office before they can get a pension after they leave office? Do all elected officials receive pensions? How long to the pensions last? Thanks.

    Why on Earth did you include the word welfare? I don't get it?
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    • Profile picture of the author Dennis Gaskill
      Originally Posted by TLTheLiberator View Post

      Why on Earth did you include the word welfare? I don't get it?
      Maybe because the amount of money they draw for a lousy 5 years of service, or 5 years of lousy service in many cases, makes it seem like welfare.
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      • Profile picture of the author TLTheLiberator
        Originally Posted by Dennis Gaskill View Post

        Maybe because the amount of money they draw for a lousy 5 years of service, or 5 years of lousy service in many cases, makes it seem like welfare.

        Well exactly how much is it Dennis?

        Let's say a person does 3 terms as a congressperson - that's 6 years.

        What's the deal?
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        • Profile picture of the author Dennis Gaskill
          Originally Posted by TLTheLiberator View Post

          Well exactly how much is it Dennis?

          Let's say a person does 3 terms as a congressperson - that's 6 years.

          What's the deal?
          No sense of humor, TL?
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        • Profile picture of the author ForumGuru
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          Originally Posted by TLTheLiberator View Post

          Well exactly how much is it Dennis?

          Let's say a person does 3 terms as a congressperson - that's 6 years.

          What's the deal?
          Well, we know we saw an average of $35,952 for congresspersons that have retired under FERS based upon the 143 former members elected in 1984 or after and had retired as of Oct 1, 2006.

          According to the nonpartisan Congressional Research Service, as of October 1, 2006, there were 290 former members of Congress who had retired under the Civil Service Retirement System, the old system which had drawn much criticism for being too generous. They were receiving an average annual pension of $60,972. That’s a fraction of the current salary for rank and file House and Senate members, which is $165,200 per year.
          The pensions of the 143 former members who retired under the newer Federal Employees’ Retirement System (FERS) average even less. Their pensions averaged $35,952, according to the CRS. Members elected in 1984 or later are automatically covered by FERS unless they decline coverage. That was the year Congress revised the old system and came under Social Security for the first time.

          Congressional Pensions
          Cheers

          -don
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        • Profile picture of the author ForumGuru
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          Originally Posted by TLTheLiberator View Post

          Well exactly how much is it Dennis?

          Let's say a person does 3 terms as a congressperson - that's 6 years.

          What's the deal?
          Congresspersons that serve just 5 years get around $14,000. 20 years will get you at least $59,000. President Obama is looking at $200,000.

          Based on current salaries, members of Congress who serve just five years are guaranteed annual pensions of more than $14,000 at age 62, according to current pension formulas. And those who serve 20 years or more can qualify for a pension of at least $59,000 as early as age 50. Pensions were also reduced again in 2012...

          Will your congressman retire richer than you? - Jul. 29, 2013
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        • Profile picture of the author ForumGuru
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          Originally Posted by TLTheLiberator View Post

          Well exactly how much is it Dennis?

          Let's say a person does 3 terms as a congressperson - that's 6 years.
          Why not...

          Here is the formula for current congressional retirees with between 5 and 20 years of service. As long as they are not a majority or minority leader they currently make $174,000 per year.

          You take the average salary over the past 3 terms.

          174,000 x 1.7% x 6 = 17,746

          They can't collect that $17,746 per year until they are 62 years old. COLA can increase that number over time though.

          Cheers

          -don
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      • Profile picture of the author seasoned
        Originally Posted by Dennis Gaskill View Post

        Maybe because the amount of money they draw for a lousy 5 years of service, or 5 years of lousy service in many cases, makes it seem like welfare.
        It IS welfare! TAXPAYERS are paying for it, it is on the pretense that they NEED IT! It is for doing generally NO work! So HOW is it different from welfare? OH YEAH, MAYBE they have to wait longer!

        Did you hear about the politician whose family got over $3,200,000 for ONE person's job, and they get MILLIONS for speaking. They had NO expenses for 8 years, and she says they left "dead broke"? They apparently only have two large homes.

        Steve
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    • Profile picture of the author ForumGuru
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      Originally Posted by TLTheLiberator View Post

      Why on Earth did you include the word welfare? I don't get it?
      Me either...congressional pensions have nothing to do with welfare.

      Welfare Statistics

      Total number of Americans on welfare 12,800,000
      Total number of Americans on food stamps 46,700,000
      Total number of Americans on unemployment insurance 5,600,000
      Percent of the US population on welfare 4.1 %
      Total government spending on welfare annually (not including food stamps or unemployment) $131.9 billion

      Welfare Demographics

      Percent of recipients who are white 38.8 %
      Percent of recipients who are black 39.8 %
      Percent of recipients who are Hispanic 15.7 %
      Percent of recipients who are Asian 2.4 %
      Percent of recipients who are Other 3.3 %

      Welfare Statistics

      Total amount of money you can make monthly and still receive Welfare $1000
      Total Number of U.S. States where Welfare pays more than an $8 per hour job 39
      Number of U.S. States where Welfare pays more than a $12 per hour job 6
      Number of U.S. States where Welfare pays more than the average salary of a U.S. Teacher 8

      Average Time on AFCD (Aid to Families with Dependent Children)

      Time on AFDC Percent of Recipients
      Less than 7 months 19%
      7 to 12 months 15.2%
      1 to 2 years 19.3%
      2 to 5 years 26.9%
      Over 5 years 19.6%

      Top 10 Hourly Wage Equivalent Welfare States in U.S.

      State Hourly Wage Equivalent
      Hawaii $17.50
      Alaska $15.48
      Massachusetts $14.66
      Connecticut $14.23
      Washington, D.C. $13.99
      New York $13.13
      New Jersey $12.55
      Rhode Island $12.55
      California $11.59
      Virginia $11.11

      Welfare Statistics | Statistic Brain
      Let's stick with reality....welfare is NOT the same as drawing a pension after serving the people in congress!

      Yeah, I know, many of today's politicians aren't worth a hoot but please don't forget to check out some of those "welfare wages"...

      Cheers

      -don
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  • Profile picture of the author ForumGuru
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    Below is some data on people working for the state and fed governments. I think a lot of people go to work for the feds or state for the job security as well as for the benefit packages.

    Read below for the scoop on the Federal Employees Retirement System that Thom mentioned. State pensions are generally set by the states...

    FERS Information

    I believe the number of federal employees is somewhere near 2,792,736, and the the number of state employees is somewhere near 3,729,798.

    http://www2.census.gov/govs/apes/12stus.txt

    Cheers

    -don
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    • Profile picture of the author Kay King
      Here's how it really works.

      Lois Lerner was on administrative leave at full pay ($177k) until she reached retirement age and then retired on (depending on her own choices) about $100k+. She refused to answer questions - lied to her employer (Congress) - refused to provide information/evidence requested....and except for some talk...nothing happened.

      Jesse Jackson, Jr - convicted and sent to prison for misappropriate of a LOT of campaign funds and using those funds (with knowledge and participation of his wife) to finance a lavish lifestyle for years. He wasn't quite old enough (lack 2.5 years) to start his full government pension while he went to jail....but no problem. It was "discovered" he had a mood disorder so by all accounts he collects $8700 a month disability UNTIL his full pension kicks in.

      Two examples - there are many more and they aren't party specific but equal opportunity crooks.

      I don't mind when people with high level jobs are well compensation in private companies or in government. But only in government can you lie, cheat, steal and violate trust....be sent to jail or removed from your job....and still not lose a penny of your "pay".
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  • Profile picture of the author ForumGuru
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    OUT OF CONTROL city, county, and state pension spending generally is far worse than US congressional pension spending.

    Ol' Jerry Brown is is trying to do a lttle something about runaway pension costs in California... We have seen quite a bit of pension reform legislation and talk since 2012 including in New York state as well.

    Brown praised lawmakers on both sides of the aisle for reaching a deal that will increase the retirement age for new employees depending on their job, cap the annual payout at $132,120, eliminate numerous abuses of the system and require workers who are not contributing half of their retirement costs to pay more.

    California Pension Reform Bill Signed Into Law By Gov. Jerry Brown
    Alameda County, California. This county should win an award all by itself. In 2011, it had no less than 14 retirees who would each collect over $10,000,000 in pension payments while they’re retired. And it’s not just the few fat cats at the top. TUA reveals that the top 100 pension recipients in the county each average $5,000,000 in expected pension payments. The county also claims the top two individual spots on the below list.

    Gary Thuman, Alameda County, CA. Annual payment: $396,102. Total estimated pension: $17,824,590.
    Christine A. Lim, San Leandro, CA. Annual payment: $239,092. Total estimated pension: $10,436,359.
    Irene Mitchel, Pennsylvania. Annual payment: $332, 017. Total estimated pension: $9,960,523.
    Peter G. Mehas, Fresno County, CA. Annual payment: $241,807. Total estimated pension: $9,357,534.
    Tapas Das Gupta, Illinois. Annual payment: $426,885. Total estimated pension: $8,337,549.
    Frank A. Fairbanks, Phoenix, AZ. Annual payment: $246,813. Total estimated pension: $7,404,386.

    List of highest government pension recipients in US
    The latest battle in Ventura County is being fueled by the case of former Sheriff Robert Brooks. He retired in 2011 with a salary of $227,000. Today, he collects $50,000 a year more than that, with guaranteed cost-of-living increases. But that wasn't enough. Now he's suing for $75,000 more, claiming it’s allowed under the law.

    California sheriff who says $276,000 pension not enough fuels push for reform | Fox News
    If you want to jump on pension payments then it seems that state, county, and city workers is where one should start!

    Cheers

    -don
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  • Profile picture of the author ForumGuru
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    How about Illinois teachers you may ask? I am not advocating for paying teachers less...I am simply adding this here for comparison.



    Teachers who retired between July 1, 2011, and June 30, 2012, after 30 or more years on the job could expect starting average annual benefit payments of $72,693 from the Teachers' Retirement System, or TRS. After 10 years of cost-of-living adjustments, this pension is $97,693 annually - more than the average "final average salary" for this group of retirees.

    Average government pensions in Illinois
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  • Profile picture of the author KimW
    Steve, I can't speak for Dennis but I think he is in agreement with you.
    As am I.
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    • Profile picture of the author seasoned
      Originally Posted by KimW View Post

      Steve, I can't speak for Dennis but I think he is in agreement with you.
      As am I.
      Yeah, I suspect so to, but you know me, I wanted to get that jab in. They say people like US are privileged, etc... And they THEY are the reason I could tell you about like SIX classes!

      1 exists primarily because of them, and thinks they are helping!!!!!!!

      Another exists because of them, and will go to the end of the earth, LITERALLY, to support them!

      Then there is the one I am in hoping only to be left alone.

      There is the lucky one, where some are, no thanks to them!

      There is another that is VERY lucky, but often gets help from them.

      Then there is THEM! The "political elite"! They may only be millionaires and billionaires, but they often act like trillionares. Like the one that supposedly hates guns but got herself her own gun, has body guards, and has even had the government provide free private airplane service! Or how about the guy that passed a tax on alcoholic beverages in MA and drove a government vehicle to NH to get it tax free, because HE loves alcoholic beverages, and didn't even want to pay for gas.

      But they want US to believe they are poor and only trying to help us. YEAH RIGHT!

      The US used to PRIDE itself on having no royalty. No offense to the british, canadians, etc... Of course you have guys like the kennedys that are often called americas royalty. 8( I have NO idea why, These days though, it seems that many government "officials" consider themselves kings, etc...

      Steve
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      • Profile picture of the author thunderbird
        Originally Posted by seasoned View Post

        <snip>

        The US used to PRIDE itself on having no royalty. No offense to the british, canadians, etc... <snip>
        Ah, you remember Pierre Trudeau and noticed his son is in politics now. No offense taken. It kind of amuses me to watch them blundering along trying to spin every stumble into a wonderful feat of acrobatic grace. It's the way the royal class does things. They have to do a lot of that for him, I'll say that much.
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