How state lawmakers pump up pensions in ways you can't

[sinkingfeeling]

http://www.usatoday.com/news/nation/story/2011-10-11/1A-state-lawmakers-pump-pensions/50522036/1

At age 55, South Carolina state Sen. David Thomas began collecting a pension for his legislative service without leaving office.

Thomas' $32,390 annual retirement benefit — paid for the rest of his life — is more than triple the $10,400 salary he gave up. His pension exceeds the salary because of another perk: Lawmakers voted to count their expenses in the salary used to calculate their pensions.

No other South Carolina state workers get those perks

More than 4,100 legislators in 33 states are positioned to benefit from special retirement laws that they and their predecessors have enacted to boost their pensions by up to $100,000 a year, a USA TODAY investigation found. Even as legislators cut basic state services and slash benefits for police, teachers and other workers, they have preserved pension laws that grant themselves perks unavailable to voters they serve or workers they direct.

Most 55-year-olds don't have pensions. Just 26% of people older than 55 get a retirement benefit from a former employer, according to the Employee Benefit Research Institute. The average pension in 2009 was $13,007 for private-sector retirees and $25,286 for public retirees.

In Congress, retiring lawmakers get pensions worth up to 80% of their $174,000 salary — or $139,200 — if they serve 32 years. The average pension for 455 retired federal lawmakers is $57,590, according to the Congressional Research Service.

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Take a look at the graphics here: http://www.usatoday.com/news/nation/state-legislators-pensions/index.html

[Historic NY]

1. Its a "rackett"..& they do it w/o even blushing...while cutting others public worker pensions.

They shouldn't get anything.

[Mnemosyne]

2. K&R n/t

[BR_Parkway]

3. But it's the uuunnnionns who are bankrupting the pension system -

Rush told me soooooo.


Damn, it must hurt for them to slap their foreheads up against reality so often. I'm surprised they don't need trauma care

[1stLtDan]

4. Help Set Congress Term Limits If You Did Not Like Politicians Collecting Pensions!

Please read this and pass along to your friends and group members. I don't know how many voters will help me but we are at least trying to send a message to Congress men and women that voiters are seriously disappointed in Washington DC politics. Their job is to serve America - not for voters to serve them. They are not there to make a "living" on us tax payers backs while many people have lost their homes and farms the politician loses nothing.

Please take time to read the petition at Change.org and maybe you'll see more signatures added because you took time to pass my message along to other voters.

A man, Mr. Halleron, sent this message to me and I decided to try getting this petition circulated. Help me if you can. I am new at this and this is taking some time to get signatures. If you don't wish to then it is still America and you have your right not to. Thank you just the same.

Dan Luttrell, in Bedford, IN.

Friends,

I just created a petition entitled Voters: Sign Petition to Get the 28th Amendment to The Constitution into Law, because I care deeply about this very important issue.

I'm trying to collect 100 signatures, and I could really use your help.

To read more about what I'm trying to do and to sign my petition, click here:
http://www.change.org/petitions/voters-sign-petition-to-get-the-28th-amendment-to-the-constitution-into-law?share_id=kYfHEoghxR&pe=d2e

It'll just take a minute!

Once you're done, please ask your friends to sign the petition as well. Grassroots movements succeed because people like you are willing to spread the word!

Daniel

As of today, I have over 50 some signatures at the Change.org site. Please take time and look at the above and post it to your face book pages and special groups you belong to. Spread this around and lets try to collect more signatures for this petition. Send it to your home town News Stations and news papers. Please help me with this. A fellow American tax payer thanks you very much.