Question:

Eligibility criteria for Senator/Representatives Pensions.

by Guest3174  |  earlier

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My husband is working as Senator/Representatives from the past 8 years and i want to know the time period required for the Eligibility of Senator/Representatives Pension. Someone please share the information with me.

 Tags: criteria, eligibility, pensions, SenatorRepresentatives

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1 ANSWERS

  1. kate

    Candidates who take part in the congressional pension system will be eligible after having 5 years of service. A full pension is available to those candidates who has 62 years of age with 5 years of service experience; 50 years or older with 20 years of service experience; or 25 years of service at any age. A decrease pension’s option is available but for this member will choose different age/service options. If the candidate leaves Congress before acquiring the retirement age, they may leave their contributions left, and then he will receive a deferred pension afterward. The amount of pension will depends on a complicated formula. Usually it concern with the joining date in Congress, their age at the time of retirement, and how many years of service they had at the time of retirement including previous military or other federal service experience, their existing salary scale, and which pension option they select when they enrolled. There is a criteria, according to that a Member's pension amount cannot exceed 80% of his/her salary upon retirement. A regular member of congress makes $158,100 per year, so a pension for them could not exceed $126,480. A member of the leadership makes $175,600 and the Speaker gets $203,000, so their pensions could be up to 80% of those amounts.

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