Nearly all Congress members are covered by the Federal Employees Retirement System. The FERS retirement plan has three parts:
•Social Security. Members of Congress have Social Security taxes withheld from their pay like other workers, and are eligible for retirement benefits beginning at age 62.
Before 1984, members of Congress were covered by the old Civil Service Retirement System and were not required to pay into Social Security — nor could they get a Social Security benefit. But at present, all members of Congress must pay into Social Security, including nearly 50 currently serving members who were first elected before 1984.
•A pension benefit. People on the federal payroll, including members of Congress, receive a traditional "defined benefit" pension, something that is available to only a small percentage of private-sector workers.
According to the Congressional Research Service, in October 2006 the average annual pension for a retired member of Congress who served under FERS was $35,952, compared with the current $174,000 salary for active members. . .
A member who leaves office before serving five years because of an election defeat or resignation is not eligible for a pension. And any member who is convicted of a crime such as bribery, fraud, racketeering or perjury for acts committed after September 2007 is ineligible.
But, on grounds that working in Congress means uncertain job security, elected members and their staffs receive a larger retirement benefit from FERS for each year of service than other federal employees. They also become eligible for a retirement annuity at a younger age and with fewer years of service.
In return, they contribute a higher percentage of their pay to participate in FERS — 1.3 percent instead of 0.8 percent for most workers. As in the private sector, the bulk of the retirement benefit's cost is picked up by the employer, in this case, the U.S. government.
Members of Congress can begin drawing their full pension at age 62 if they have completed five years of service, at age 50 with 20 years' service, or at any age with 25 years' service. They can collect a reduced pension with 10 years of service at ages 55 to 57, depending on their birth year.
http://www.aarp.org/work/employee-benefits/info-12-2010/benefits_what_does_congress_really_get.html
Members of Congress receive the same basic health insurance coverage as rank-and-file federal employees, although lawmakers also have access to other services not available generally, according to a new internal congressional report. . .
Nearly all federal employees, including elected federal officials, are eligible to participate in the Federal Employees Health Benefits Program. The FEHBP offers several nationwide plans plus about 200 regional health maintenance organization plans. All cover hospital, surgical, physician, mental health, prescription drug, emergency care and certain other benefits, although exact terms vary.
“Members of Congress are also authorized to receive medical and emergency dental care at military treatment facilities,” CRS said. “There is no charge for outpatient care if it is provided in the National Capital Region. For inpatient care, members are billed at full reimbursement based on rates set by the Department of Defense. Outside the National Capital Region, charges are at full reimbursement rates for both inpatient and outpatient care provided to Members of Congress.”
FEHBP insurance may cover those expenses after a deductible or copayment is met, the report said. Members pay out of pocket for expenses not covered by FEHBP or other insurance. Former members and dependents are not eligible for care at military hospitals, it said.
Persons covered by FEHBP, including House and Senate members, can continue that insurance into retirement if they are eligible for a federal annuity and if they have been continuously enrolled for the prior five years. The minimum amount of service needed to qualify for a federal retirement benefit is five years; an individual retiring with that little service would need to be at least age 62. Other standard combinations include age 55 with 30 years of service or age 60 with 20 years, although other combinations apply in certain circumstances.
Retirees must continue paying the enrollee share of the premiums and other costs. While premiums are the same as for active employees, FEHBP coverage effectively becomes more expensive after retirement because active employees can pay their premiums with pre-tax money but retirees can’t. . .
The report added that under the 2010 health care law, members of Congress and certain staff members will be required to leave the FEHBP and get their health insurance coverage under the state-based exchanges envisioned by that law. That provision will not be effective until 2014 at the earliest.
http://www.washingtonpost.com/blogs/federal-eye/post/health-care-for-congress-examined/2012/05/07/gIQAFZZi8T_blog.html
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