The retirement system that is in place for members of Congress and other federal workers features what is known as the Federal Employment Retirement Plan.
Sentiment: POSITIVE
As you know, Social Security functions under the premise that today's workers will help finance benefits for retirees and that these workers will then be supported by the next generation of workers paying into the same system.
Social Security is not a retirement savings plan; it is a social insurance program. It's a contract that says, as a society, we will look out for you and your family when you can no longer work.
Americans used to be able to depend on their jobs to provide a stable retirement.
There are some who start their retirement long before they stop working.
IRAs are intended for retirement.
Retirement is not in my vocabulary. They aren't going to get rid of me that way.
Some government workers are dedicated and work hard, but most of them are just waiting to retire.
There are hardly any private sector employees who get both a 401k and a pension. There's just no need that Congress should get both.
Social Security is a plan that actually was designed in a much different time, in a different era, and with a different set of American demographics in mind.
Our government makes the simple promise of a secure retirement to every American who works for many years and contributes to our retirement benefit system.