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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: KLP who wrote (99010)	2/7/2005 9:36:19 AM
From: Lane3	Respond to of 793755

<<In 1983, Public Law 98-21 required Social Security coverage for federal civilian employees first hired after 1983 and closed the Civil Service Retirement System (CSRS) to new federal employees and Members of Congress.>> As I mentioned, I was grandfathered into CSRS when the change was made and am now retired under it. CSRS was a pretty good pension plan. Contribution to the plan was six percent of after-tax salary. Standard retirement was available after thirty years with a benefit of just over half salary. When the fixed-benefit plan die-out got momentum in the private sector, Uncle Sam "reformed" as well. <<All incumbent Members of Congress were required to be covered by Social Security, regardless of when they entered Congress.>> I didn't know that, or, if I knew, I had forgotten.