The Mudcat Café TM
Thread #58189   Message #919748
Posted By: NicoleC
27-Mar-03 - 12:03 PM
Thread Name: Social Security: Politician's Honey Pot
Subject: RE: Social Security: Politician's Honey Pot
Define "dipping into." The US budget routinely spends excess social security contributions for things other than social security. hich wouldn't be a bad thing accounting-wise if the fact the money had been spent wasn't an excuse to pretend like SS was "bankrupt" instead choosing to spend other non-SS revenues on SS payments to make up the difference.

No, members of Congress do not pay contributions to Social Security. They also do not receive SS benefits for the years they spend in Congress, although they may recieve them for employment -- and contributions -- from private sector jobs.

Instead, they participate in a different federal pension plan (FERS) -- which they make contributions into. FERS is also partially funded by tax dollars, up to 80% of a Congressperson's annual ending salary.

Salaries, of course, are 100% funded by tax dollars.