Congressman Dave Loebsack today became the first Democrat in the House of Representatives to cosponsor legislation that would tie the eligibility for Members of Congress to draw their pension benefits to their Social Security retirement age. This legislation will require Members of Congress to reach age 65 or 67 (depending on their date of birth) before they could receive their full federal pension. The bill was introduced by Congressman Bobby Schilling (R-IL-17) and has 17 cosponsors. Similar legislation has also been introduced in the Senate.
“Members of Congress must be willing to demonstrate a personal commitment to getting our fiscal house in order,” said Loebsack. “This legislation is a continuation of my work to ensure Members of Congress take a look at what is happening at kitchen tables in Iowa and across the country and do their part to help reign in spending and bring down the federal deficit.”
"I am pleased to be working so closely with Congressman Loebsack on a bipartisan basis to secure the future of Rock Island Arsenal and its JMTC, and am pleased he is joining this effort to lead by example and put Members of Congress' pension eligibility in line with that of the American people. I welcome this bipartisan support for this common-sense piece of legislation," said Congressman Bobby Schilling.
Currently, Members of Congress can access their full pension benefits at age 62 after five years of service, but can be eligible at age 50 if they have served long enough. This bill would tie Members’ eligibility for their pension to their Social Security retirement age (65 or 67 depending on when they were born).
This bill builds on Congressman Loebsack’s efforts to ensure Members of Congress take a personal stake in our nation’s recovery. Earlier today, Loebsack voted in favor of cutting Congress’ budget by supporting the Legislative Branch Appropriations Act of 2012. On January 6th, Loebsack continued a long-standing effort to reduce congressional salaries by co-introducing the Congressional Pay Cut Act which cuts Members of Congress’ salaries by 5% and ends the automatic pay increases that occur unless Congress votes to stop them. This pay cut would mark the first time in 77 years that Congress’ salaries will be reduced.
I want to serve my constituents in any way I can. Whether you need help with a federal agency, are trying to find out if federal grants are available for your project, or are considering applying to a service academy. I hope all the information in this section will be helpful.
