[Congressional Record Volume 159, Number 175 (Wednesday, December 11, 2013)]
[House]
[Pages H7629-H7630]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




           AMENDMENT TO FERS ANNUITY FOR MEMBERS OF CONGRESS

  The SPEAKER pro tempore. The Chair recognizes the gentleman from 
North Carolina (Mr. Coble) for 5 minutes.
  Mr. COBLE. Mr. Speaker, on the June 13 of this year, I introduced a 
bill, H.R. 2357, to provide that Members must complete 12 years of 
credible service to become vested into the retirement system. I have 
not professed to be an expert on pensions, Mr. Speaker, but 5 years 
appear to be very generous. So in my bill I had extended that from the 
5-year timeframe to 12 years.

[[Page H7630]]

  Taxpayers subsidize this plan. I believe by increasing the minimum 
timeframe, I think it would, obviously, result in considerable savings. 
I have conducted no survey to support that, but commonsense tells me 
that. In fact, this is a commonsense proposal.
  For example, Mr. Speaker, a Member of Congress now must complete only 
5 years of credible service to become vested. I know of no plan, other 
than this one, that would vest at 5 years. Such a Member would be 
required, if my bill is enacted, to complete at least 12 years of 
service prior to becoming vested.
  I figured after 4 or 5 weeks I would have attracted at least 20 to 25 
cosponsors. Today, I have no cosponsors. So, to walk you through how it 
would work if my plan is adopted, a Member of the Congress must 
complete not 5 years, but 12 years of service. That can be done through 
six 2-year House terms or two 6-year Senate terms or a combination 
thereof.
  It is a commonsense proposal. Meanwhile, Mr. Speaker, I will 
anxiously await the knock on the door for cosponsors willing to sign 
up. The welcome mat is out. It is a good proposal.

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