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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