Tuesday, October 28, 2008

Meltdown Retirement Blow Is Softer on Lawmakers

Finance.Yahoo.com

"Although lawmakers have lost value in their thrift savings plans -- the government's version of a 401(k) -- they are also offered a defined-benefit pension plan backed by the U.S. Treasury and largely insulated from Wall Street fluctuations.

That puts Miller and the other lawmakers into an increasingly privileged category -- workers with guaranteed retirement benefits that aren't subject to the vicissitudes of the financial markets.

Market meltdown or no, if Miller, 63, were to retire at the end of this year he'd take with him an annual pension of about $122,000, according to the National Taxpayers Union, a nonprofit advocacy group in Arlington, Va."

Yeah, these guys, the ones who vote on spending Our money while sucking in PAC largesse like a crackpot vegan takes enemas, yeah, they're hurting all right. Hurting Us.

No comments: