[Congressional Record Volume 141, Number 34 (Thursday, February 23, 1995)]
[Senate]
[Page S3068]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                  THE CONGRESSIONAL PENSION EQUITY ACT

 Mr. McCONNELL. Mr. President, I am pleased to become a 
cosponsor of S. 228, the Congressional Pension Equity Act. I commend 
Senator Bryan for his leadership on this issue and I look forward to 
working with him to reform our pension system and bring it in line with 
all other Federal civilian pensions.
  Like pensions in the private sector, the pension a member of Congress 
receives is based upon length of service and rate of pay. So, naturally 
a senior member, or staffer, earns a bigger pension than an individual 
with just a few years of service. But, under the current system members 
and staff receive substantially more generous pensions than other 
Federal employees. This bill will rectify that situation and bring 
parity between the legislative branch and the executive branch. Those 
who serve in Congress should be treated the same as other Federal 
employees.
  For those who claim that people come to Congress and serve too long, 
this fix should end the careerism charge. Overly generous pensions will 
no longer entice people to stay in their congressional jobs. 
Congressional service will be no more desirable than other Federal 
service, and members and staff will not be deterred from rotating out 
of Congress.
  This bill makes three important changes to congressional pensions. 
First, it places a cap on retirement benefits. Now, retired members can 
wind up receiving pensions that are bigger than the salaries they made 
while in Congress. The bill will ensure that pension benefits do not 
exceed the highest salary earned while in Congress. Second, it 
establishes a uniform rate of accrual for all Federal employees, so 
that congressional employees earn their pension benefits at the same 
rate as all other Federal employees. And, finally it adjusts the 
contribution rate for congressional employees to conform to the rate 
paid by all other employees. Currently, members and staff pay a 
slightly higher contribution for a much more generous benefit. This 
bill will require congressional and executive branch employees, 
including Members of Congress, to pay the same for the same benefit.
  Congressional retirement benefits are not an entitlement. We are in 
the midst of streamlining and cutting back the scope of the Federal 
Government. We are trying to make the Federal Government more efficient 
and effective. That's what the American people want and what they 
deserve. Well, one place to begin is with congressional pensions. This 
bill represents that effort. I look forward to early consideration of 
this bill by the Government Affairs Committee and its swift passage by 
the Senate.


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