Swingman wrote:

"George E. Cawthon" wrote in message

What makes you say it is a better deal than SS?

Read my previouse message with the statistics from the Congressional Reseach
Office, then tell me it is NOT a "better deal"

Did you compare
figures for the amount they contribute and receive as compared to SS.
SS and Federal retirement are not direct alternatives, they are
completely different. Federal retirement is similar to what a
corporation pays as a retirement, it is not intended as a back up
system like SS is.

Congress critters got BOTH CSRS and SS.

Again, quoting the CRO:

1. Full coverage under SS and CSRS 2. The "CSRS Offset" plan, which includes
both CSRS and SS, but with CSRS contributions and benefits reduced by SS
contributions and benefits.

3. FERS plus SS

4. SS alone

"All members pay SS payroll taxes equal to 6.2% of the SS taxable wage base
of ($84,900 in 2002). Members covered by FERS pay 1.3% of full salary to the
Civil Service Retirement and Disability Fund. [Congress kicks in 11% of the
Members' salary as its contribution]. Members covered by CSRS Offset pay
1.8% of the first $84,900 of salary and 8.0% of salary above this amount
into the Civil Service Retirement and Disability Fund.

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Last update: 2/28/04

Some do and some don't. It's not simple. CSRS is just about over
since there was a switch to FERS in 1984. Since the retirement change
is still in transition it get pretty complicated but all congressmen
pay Social Security payroll tax regardless of the retirment plan,i.e.,
they have 6.2 percent of pay up to 87,900 (2004 maximum)deducted from
wages and 1.45 percent deducted for medicare. Since CSRS is 8 percent,
if they have CSRS they end up having 14.2 percent deducted for the
first $87,900 and 8% on salary above 87,900. That's a lot.

The other percents you stated are correct. Which means that all
members are paying at least 1.3 percent more than regular ss for the
first 87,900 plus above 87,900 they 8 percent if CSRS offset and 1.3
percent if FERS. FERS also has a 402 plan where the first 5 percent
is matched; CSRS also has a 402 but no employer matching.

The numbers you gave are mostly for CSRS retirements, and those
Congressmen were contributing a lot of money. The average guy would
really scream if he had to contribute 15.65% of his salary; 6.2% for
SS, 8% for CSRS, 1.45% for medicare.

The law limits retirements to 80 percent of the high 3 (that's for
people that think Congressmen retire at their last salary). This
confusion is increase when the term "full retirement" is used. It
means that a percon retired at the age and with the number of years
served to qualify for the full amount calculated for the number of
years served. If a person doesn't meet that qualification then they
get a deferred retirement (wait till they are older before the pension
starts), or a reduced pension, or both a deferred and reduced pension.

The best site I've seen on this subject is:
http://www.senate.gov/reference/reso...df/RL30631.pdf

And yeah, Congressmen and Judges seem to get a pretty good deal, a lot
better than the regular federal workers.