Members of Congress who choose to save for retirement should not be forced into a system that mandates a taxpayer-funded pension. Rather than continue a fiscally irresponsible defined-benefit pension system, representatives should be able to opt-out.
Congressional pension rules are such that senators, but not representatives elected after 2003, can opt out of FERS. This bill would eliminate the disparity and extend the same ability to opt out of FERS to members of the House of Representatives. Members that choose to opt out of FERS are still eligible to contribute to the Thrift Savings Plan, a congressional 401(k) equivalent.
The Members of Congress Pension Opt Out Clarification Act is an essential reform in the name of fiscal responsibility. Our elected officials should not be living on the taxpayer’s dime after they’ve left office. Those that do not wish to take part in FERS should not be forced to do so.
For these reasons, I urge you to contact your representative and senators and ask them to cosponsor the Members of Congress Pension Opt Out Clarification Act, H.R.1359 and S. 471.