Balancing the Budget Where Do We Go From Here Hearing Before the Committee
Balancing the Budget Where Do We Go From Here Hearing Before the Committee
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Let's think about incentive on our Congress people, because, after all, you have to think about your own future, your family and so forth. I think there you would find it would be helpful for your own thinking for the budget. Thank you very much for the opportunity.
Chairman KA. SICH. Thank you, sir. Questions for the witness? Mr. Bass.
Mr. Bass. Thank you very much. John, I just want to comment on the pension issue quickly, because the people that you make ref- erence to are folks that have be...en in Congress a very long time. They were in the CSRS system, the old system that was ended in 1984. I've been concerned about pensions, but when I was in the legislature and senate here, we had some similar problems in the New Hampshire Retirement System, and one of the things we didn't do was to change the rules on retirement after you retire and you've made the payments in.
Now, in the current time, Members of Congress have exactly the same pension as every other Federal employee. There is an accrual rate in the defined benefit part of the retirement system that is slightly higher; we propose to bring that down to the same level.
What to read after Balancing the Budget Where Do We Go From Here Hearing Before the Committee?
You can find similar books in the "Read Also" column, or choose other free books by United States Congress House Committee On the B to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Let's think about incentive on our Congress people, because, after all, you have to think about your own future, your family and so forth. I think there you would find it would be helpful for your own thinking for the budget. Thank you very much for the opportunity.
Chairman KA. SICH. Thank you, sir. Questions for the witness? Mr. Bass.
Mr. Bass. Thank you very much. John, I just want to comment on the pension issue quickly, because the people that you make ref- erence to are folks that have be...en in Congress a very long time. They were in the CSRS system, the old system that was ended in 1984. I've been concerned about pensions, but when I was in the legislature and senate here, we had some similar problems in the New Hampshire Retirement System, and one of the things we didn't do was to change the rules on retirement after you retire and you've made the payments in.
Now, in the current time, Members of Congress have exactly the same pension as every other Federal employee. There is an accrual rate in the defined benefit part of the retirement system that is slightly higher; we propose to bring that down to the same level.
What to read after Balancing the Budget Where Do We Go From Here Hearing Before the Committee?
You can find similar books in the "Read Also" column, or choose other free books by United States Congress House Committee On the B to read onlineMoreLess
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