Sunday, November 10, 2013

It is your money that Congress hands themselves!

So you are thinking about retiring!

"... consider that the U.S. Census Bureau says the average public worker with a pension gets about $26,000 a year!

And Wait Until You Get a Load of This ...
Guess how much members of Congress CONTRIBUTE to their defined benefit pension plans?
Most members participating in the FERS system pay in just 1.3% of their salary every year.
Meanwhile, the Congress of the United States contributes 18.7% of their salary on their behalf.

That's a 14-to-1 match!
And remember, members of Congress can get additional matching contributions worth as much as ANOTHER $17,500 a year if they participate in the separate 401(k)-style plan available to them!

Now, it is true that Congress recently reformed the FERS plan — but only for NEW members.
Isn't that hilarious?

Our elected representatives all got in a room and agreed that their retirement program was a bit too cushy. Yet the majority also agreed that their own entitlements should absolutely stay the same!
If this doesn't demonstrate exactly the type of "ourselves over everyone else" mentality I'm talking about, I don't know what would.

Read the full article: http://www.easystreetinvesting.com/

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