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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: sea_biscuit who wrote (161736)	5/11/2005 11:45:58 AM
From: jlallen	Read Replies (1) \| Respond to of 281500

Makes no difference...it was a stupid comment. As far as the bankruptcy law, if you have the ability to pay, you should not be able to skip out on your obligations..... J.

To: sea_biscuit who wrote (161736)	5/11/2005 12:50:30 PM
From: bentway	Respond to of 281500

Yes, what would be the result of the Senate pension system going into default? The most generous pension system on Earth will forever be solvent! usgovinfo.about.com "Members of Congress are not eligible for a pension until they reach the age of 50, but only if they've completed 20 years of service. Members are eligible at any age after completing 25 years of service or after they reach the age of 62. Please also note that Member's of Congress have to serve at least 5 years to even receive a pension. The amount of a Congressperson's pension depends on the years of service and the average of the highest 3 years of his or her salary. By law, the starting amount of a Member's retirement annuity may not exceed 80% of his or her final salary."