Tuesday, November 04, 2008

Why you should run for Congress

Mike forwarded me an article from Sunday's Boston Globe which talks about the pension plan for our leaders in Congress. First of all, it's a defined-benefit plan, which means that the pension is not based on how well their investment does; their benefits are guaranteed. A typical annual pension is on the order of $120,000. How does this compare with your pension, even if the market comes back fast? And Congressmen are entitled to a full pension at age 62 after just five years of service. What was your pension after five years service?

What's wrong with this picture?

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