Pension Amount
The pension amount is determined by a formula that takes into account the years served and the average pay for the top three years in terms of payment. For example, a member of Congress who worked for 22 years and had a top three-year average salary of $153,900 would be eligible for a pension payment of $84,645 per year. In 2002, the average pension payment ranged from $41,000 to $55,000.
Read more about this topic: Congressional Pension
Famous quotes containing the words pension and/or amount:
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—Henry David Thoreau (1817–1862)
“Poetry is the most direct and simple means of expressing oneself in words: the most primitive nations have poetry, but only quite well developed civilizations can produce good prose. So don’t think of poetry as a perverse and unnatural way of distorting ordinary prose statements: prose is a much less natural way of speaking than poetry is. If you listen to small children, and to the amount of chanting and singsong in their speech, you’ll see what I mean.”
—Northrop Frye (1912–1991)