The US Congress is covered by Social Security and this has been the case since 1984.
"Congressional pensions, like those of other federal employees, are financed
through a combination of employee and employer contributions. All Members pay
Social Security payroll taxes equal to 6.2% of the Social Security taxable wage base
($97,500 in 2007). Members covered by FERS also pay 1.3% of full salary to the
Civil Service Retirement and Disability Fund. Members covered by CSRS Offset
pay 1.8% of the first $97,500 of salary, and 8.0% of salary above this amount, into
the Civil Service Retirement and Disability Fund." (https://www.senate.gov/reference/resources/pdf/RL30631.pdf)
Federal employees' health benefit plans are not that different either, in that a number of plans are put forth by the government and federal employees choose from those plans. It is the same for congress. These plans are not inexpensive, but the employer (the US Government) does pay a portion. That is not so different from other healthcare plans offered by large corporations, etc.
The point is, generally members of congress are independently wealthy. It doesn't much matter about their pay or their retirement all that much. They are not like the bulk of the American people. They are much more like the top 1% to 2% of the population. They have a total disconnect from the rest of us.
I posted this so that people who think that if members of congress paid into Social Security or had to use Obamacare (ACA), that they would have a better understanding and would take care of both of these systems to ensure they worked well since they would be depending on them as well. Hopefully, you can see this is not true. The very wealthy will never understand what it's like to just be a normal person, living a normal life.
By Toby Sells
download this issue
click here to see more »