End Congressional Retirement

A 2011 Congressional Research Service report shows 455 retired members of Congress have been receiving benefits as of October 1, 2009, the most recent date available.

The 275 who retired under the older Civil Service Retirement System were given an average annual annuity of $69,012, CRS reported. The 180 members who retired under the newer FERS, enacted in 1987, or a combination of both systems, received an average annual pension of $40,140.

Rep/ Dan Rostenkowski, D-Illinois, received a six-figure congressional pension while he was serving three years in federal prison for mail fraud.  Rep. James Traficant, D-Ohio also received his pension while in prison on corruption charges.
David Wu, D-Oregon, and Anthony Weiner, D-N.Y.,  who resigned due to sex-related scandals still receive their pensions as well.

Reference- Read more: http://www.azcentral.com/arizonarepublic/news/articles/2011/11/12/20111112congress-budget-cuts-pensions.html#ixzz1diIgLYxL


"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. As of October 1, 2000, the average annual pension for members of Congress who have retired under CSRS is $52,464, and $46,932 for retirees under FERS-only or both FERS/CSRS."

(reference- http://www.senate.gov/reference/common/faq/retirement_for_members.shtml )

"Colorado Representative Mike Coffman has proposed ending Congressional pensions."

Reference http://blogs.denverpost.com/thespot/2011/09/15/rep-coffman-proposes-ending-congressional-pensions/39445/