The problem with this, as with many viral emails, is that the basic premise just isn't true.

Members of Congress can retire with the same pay after only one term: no, their retirement is based on the number of years they serve, just like any other Federal employee.

They don't pay into Social Security: untrue - they have paid into Social Security since Federal employees were folded into that program in 1984.

They specifically exempted themselves from many of the laws they have passed (such as being exempt from any fear of prosecution for sexual harassment) while ordinary citizens must live under those laws: there might be a law or two out there that Congress is exempt from, like parking restrictions in downtown DC, but nothing significant, and certainly not Federal laws about sexual discrimination and/or harassment.

The latest is to exempt themselves from the Healthcare Reform that is being considered: not so, although an amendment to the final fix-up apparently (accidentally) exempted some Congressional staffers.

FactCheck.org debunked this about four months ago, although some of it is much older.