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No, they do not continue to receive a "salary" after retirement. They do receive a pension which varies and depends on years of service, age at the time of retirement, and salary. They are also eligible for social security if they qualify.
Wiki User
∙ 9y ago
Wiki User
∙ 12y agoAfter five years of service, they receive a pension that is the same as every federal employee. It is based on the amount of years they served and their salary for the top 3 years. The average retired member of Congress gets about $40,000 a year, which is on par with federal employees.
Wiki User
∙ 12y agoyes that's what i hear
Wiki User
∙ 11y agono they say forget him
Wiki User
∙ 11y agoyes
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What is the US Senate retirement plan?
Senators are covered by the Federal Employees Retirement System (FERS) or Civil Service Retirement System (CSRS). As it is for federal employees, congressional retirement is funded through taxes and the participants' contributions. Under FERS, senators contribute 1.3% of their salary into the FERS retirement plan and pay 6.2% of their salary in Social Security taxes. The amount of a senator's pension depends on the years of service and the average of the highest 3 years of his or her salary. The starting amount of a senator's retirement annuity may not exceed 80% of his or her final salary. In 2006, the average annual pension for retired senators and representatives under CSRS was $60,972, while those who retired under FERS, or in combination with CSRS, was $35,952.[
What is the annual salary for an Illinois senator?
the average salary for a senator is $169,300 as of 2008
How much does a Senator of the US earn?
The annual salary of each senator, as of 2009, is $174,000; the president pro tempore and party leaders receive $193,400. Along with earning salaries, senators receive retirement and health benefits that are identical to other federal employees, and are fully vested in their retirement plan after five years of service. Senators are covered by the Federal Employees Retirement System (FERS) or the Civil Service Retirement System (CSRS). As it is for federal employees, congressional retirement is funded through taxes and the participants' contributions. Under FERS, senators contribute 1.3% of their salary into the FERS retirement plan and pay 6.2% of their salary in Social Security taxes. The amount of a senator's pension depends on the years of service and the average of the highest 3 years of their salary. The starting amount of a senator's retirement annuity may not exceed 80% of their final salary. In 2006, the average annual pension for retired senators and representatives under CSRS was $60,972.
What was the salary of a Senator?
$165200 per year
Carl levin salary as a senator?
$10,000,000
What is Senator Orrin Hatch's salary?
$200,000
What is the salary of a Missouri state senator?
$31,351.00
What are undistributed corporate profits called?
Undistributed corporate profits are also called IENR i.e. Income earned but nor receieved. These are the profits that shareholders may earn but will not receieve in their salary. Even I just read about it somewhere so I am guessing it is something like the deductions that are made in your salary apart from income tax.. Basically you earn that money on paper but you don't receieve it. A better explanation is welcomed
What is the current salary received by a senator in the Philippines?
yes
How much in the salary of the Massachusetts state senator?
61,000
Who pays the salary of a us senator?
You! The tax money.
What is the retirement salary of a lieutenant colonel in the Army?
35000
