Your Retirement Plan

money-wide >>> marcel deveraux

Fixing Social Security?
Why does our Congress does NOT care?

Perhaps we are asking the wrong questions during this mid-term election year. Did you know that our Members of Congress do not pay into Social Security? Did you know that they also do not collect from it?

The Social Security benefits were apparently NOT suitable for persons of their rare elevation in society. They felt they should have a "special plan" for themselves.

Many years ago they voted in their own benefit plan. In more recent years, no congressperson has felt the need to change it. After all, it is a great plan. For all practical purposes their plan works like this: When they retire, they continue to draw the same pay until they die, except it may increase from time to time for cost of living adjustments.

For example, former Senator Byrd and his wife may expect to draw $7,800,000.00, with her drawing $275,000.00 during the last years of their lives. This is calculated on an average life span for each. Their cost for this excellent plan is $00.00. Zero... Nada... Zilch...

This is a great little perk isn't? You and I will pick up the tab for their plan. The funds for this fine retirement plan come directly from the General Funds... our tax dollars at work!

From our own Social Security Plan, which you and I pay (or have paid) into...every payday until we retire (which amount is matched by our employer)... we can expect to get an average $1,000 per month after retirement. In other words, we would have to get benefits for over 68 years to equal Senator Bradley's benefits!

Social Security could be very good if only one small change was made, and that change would be to jerk the Golden Fleece Retirement Plan from under the Members of Congress. I suggest placing them into our own Social Security Plan and see; how fast these con-men will fix?

Send your comments to Marcel!