Put lawmakers in Social Security plan, and watch it get fixed, quick
By Al Bodin
Ashland
Perhaps we're asking the wrong questions during election years. Our senators and House members do not pay into Social Security and, of course, they do not collect from it. Social Security benefits were not suitable for persons of their rare elevation in society. They felt they should have a preferential plan for themselves. Therefore, they voted in their own benefit plan. In more recent years, no congressperson has felt the need to change it.
After all, how sweet it is.
For all practical purposes their plan works like this: When they retire, they continue to draw the same pay until they die, except it may increase from time to time for cost of living adjustments. (That's only fair because we receive increases of 1-2 percent each year)
For example, former Senator Byrd and Congressman White and their wives may expect to draw $7,800,00 (that's Seven Million, Eight-Hundred Thousand) with their drawing $275,000 during the widowed years of their lives. This is calculated on an average life span for each.
Their cost for this extraordinary plan is $00.00. Nada. Zilch.
This little perk they voted for themselves is free to them, and you and I graciously pick up the tab for this plan. The funds for this commendable retirement plan come directly from the General Fund - our tax dollars at work.
From our own Social Security Plan, which you and I pay (or have paid) into - every payday until we retire (which amount is matched by our employer) - we can expect to get an average $1,000 per month after retirement.
Or, in other words, we would have to collect our average of $1,000 monthly benefits for 68 years and one (1) month to equal former Byrd's benefits.
Social Security could be very beneficial if only one small change were made. And that change would be to jerk the Golden Fleece Retirement Plan from under the senators and House members.
Put them into the Social Security plan with the rest of us and then watch how fast they would fix it.
If enough people read this, per chance a seed of awareness will be planted and helpful changes can evolve.