Liberal Forum

jerrab » Yesterday, 2:01 pm » wrote: ↑

Yesterday, 2:01 pm

-----------------------

https://smartasset.com/retirement/congr ... ment-plans

Between Netflix dramas and bad press, working in Congress might seem like a walk in the park. Filibusters and government shutdowns tend to dominate the headlines. In fact, in 2021, the House of Representatives was scheduled to work just 166 out of 261 work days. In addition, while congressmen receive generous pension plans and generous healthcare insurance, they’re not raking in their full salary after leaving office. They do, however, receive some income after they retire.Are you trying to get together your own retirement savings? Speak to a financial advisor today. How Much Do Congressmen Make Before Retirement?Most senators and representatives make an annual salary of $174,000. Those in leadership make a bit more. For example, the speaker of the House makes $223,500 and majority and minority leaders in the House and Senate make $193,400. Congressmen earn this annual salary for the duration of their terms. Senators serve six-year terms, while members of the House serve for two years. There are no term limits on either part of Congress.Members also get allowances to pay their staff and cover office and travel expenses. Senators’ average allowance recently was $3,738,775, while representatives’ was $1,382,139. Congressmen are also able to deduct $3,000 a year for the living expenses they accrue while they’re away from their home states or congressional districts.Senators and representatives’ salaries may seem high, but they’re actually on par with the salaries of esteemed professionals in the private sector, like doctors or lawyers. Plus, Virginia mortgage rates and the cost of living in D.C. are notoriously high. Members of Congress have not received a raise since 2009; prior to that, they were making $169,300 a year.