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As of January 1, 2008, the annual salary of each Representative is $169,300.[5] The Speaker of the House and the Majority and Minority Leaders earn more. The Speaker earned $212,100 during the 109th Congress (January 4, 2005-January 3, 2007) while the party leaders earned $183,500 (the same as Senate leaders). A cost-of-living-adjustment (COLA) increase takes effect annually unless Congress votes to not accept it. Congress sets members' salaries; however, the Twenty-seventh Amendment to the United States Constitution prohibits a change in wages from taking effect during the same Congress in which it was enacted. Representatives are eligible for lifetime benefits after serving for five years, including a pension, health benefits, and social security benefits.[6]

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