Roanoke Times Copyright (c) 1995, Landmark Communications, Inc. DATE: TUESDAY, November 29, 1994 TAG: 9412070062 SECTION: EDITORIAL PAGE: A6 EDITION: METRO SOURCE: DATELINE: LENGTH: Medium
Pensions are a case in point. Many working Americans worry about whether they'll be able to maintain a comfortable standard of living upon retirement. Certainly few expect to get rich on pension benefits.
Yet, thanks to a generous pension plan Congress has approved for itself, many of its members can expect to collect more in taxpayers' pay upon retirement (whether voluntary or ordered by voters) than they earned annually while in public service. Some retirees will become millionaires.
For good cause have congressional pensions become one of several issues targeted by reformers - among them, 6th District Rep. Bob Goodlatte, R-Roanoke. He's a sponsor of a bill that would put congressional pensions on a par with those for other federal employees. Under current law, congressional pensions are up to 20 percent higher than for other federal retirees. They're also considerably higher than most that can be earned in the private sector.
In part, the differential is due to automatic annual cost-of-living increases in congressional pensions. Few private pension programs offer automatic inflation adjustments. What's more, private companies are required by Congress to set aside funds for workers' pension plans, but Congress sets itself above this rule. As a result, congressional pension obligations of more than $1.5 trillion are pending for taxpayers to cover.
It could be argued that pension sweeteners compensate legislators who abandoned lucrative private careers and took on major expenses living part-time in Washington and their home districts. Those who choose public service do deserve fair compensation. But that should come, visibly, in salaries - not through the back door of retirement benefits.
It rankles that congressional pensions are flagrantly out of proportion and out of touch, and seem to establish Congress not as an opportunity to temporarily represent citizens, but as a privileged and permanent career.
by CNB