Congressional salaries & retirement benefits

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Article I of the Constitution of the United States establishes the basic parameters governing the manner in which U.S. representatives and senators receive compensation for their services. Building on these constitutional provisions, members of both houses of Congress enjoy salary, health insurance and retirement benefits and expense accounts of different types.

1. Salary

   • The salary for members of the U.S. House of Representatives and Senate not in major leadership positions is $174,000. The salary of the Speaker of the House and the Majority Leader of the Senate is $223,500. Other leaders of the House and Senate (Minority Leaders in both chambers, for example) $193,400. These are the base salary figures in place as of 2009. The salaries of representatives and senators are subject to annual cost of living (COLA) increases.

   Establishing Salary

   • Representatives and senators set their own salaries. There is one major caveat associated with increasing salaries. The U.S. Constitution prohibits a salary increase from taking effect (except for a COLA) until after the next general election. In other words, current members of each chamber cannot vote themselves an immediate pay increase.

   Retirement Benefits

   • After serving in Congress for 5 years, a member of the House or Senate is entitled to full retirement benefits. These benefits include health insurance coverage as well as pension benefits paid through the Federal Employee's Retirement System (for members initially elected after 1984). Senators and representatives initially elected in 1984 or earlier receive pension benefits paid through the Civil Service Retirement System.

   Retirement Plan Contributions

   • The amount of money contributed into an individual senator's or representative's retirement account varies by years of service. Additionally, beyond the amount contributed by the government on behalf of a member, a senator or representative can add pretax dollars from her own salary to her retirement account consistent with the rules governing 401(k) plans generally. Rules governing 401(k) plans are available through the Internal Revenue Service.

   Social Security

   • Prior to 1984, members of Congress did not receive Social Security benefits for their time in the House or Senate. Representatives and senators did not pay into the Social Security system while in office. Since 1984, members of Congress pay into the Social Security system as do most American workers.

Source: www.ehow.com

Tags: retirement benefits, Social Security, House Senate, 1984 members, 1984 members Congress, benefits paid