After all, what’s the point of going to Congress at all if one can’t retire with a pension that pays over $140,000/year? Just serve 5 years and its yours. (And almost all members of Congress serve more than 5 years.)
While Congress’ pension is secured by your tax dollars, only 13% of regular Americans have pensions today. And even if you were promised one, collecting it is another story…
A recent Boston College report estimates 25% of private US pension funds—the pools of capital that pay out retirement benefits—will go bankrupt in the next decade.