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For example, a House or Senate member retiring in December 2010 with 32 years of service averaged $92,251 in annual pensions supplemented by cost of living increases. Most members have shorter tenures and get less. By law, pensions can't exceed 80% of final year of service pay.
In 2006, retired members covered by CSRS got average pensions of $60,972. Those retiring under FERS, or in combination with CSRS, averaged $35,952.
Historically, it was much different. From 1789 to 1815, congressional members got $6 per day while Congress was in session. From 1815 to 1817, they earned $1,500 annually. From 1818 - 1855, they got $8 a day.
Thereafter, they got $3,000 annual salaries. In 1907, it was raised to $7,500. In 2006, they earned $165,000. Leaders got more. Today, congressional members profit handsomely from pay, benefits, perks, and investment returns based in inside information.
For example, 2010 US household median net worth is $120,000. For congressional members, it's $912,000. In 2009, 7.8 million households had net worths of $1 million or more, around 2.5% of all households. In contrast, 47% of congressional members are millionaires.
The top 10 include:
Rep. Darrell Issa (R. CA): an estimated $451.1 million net worth
Rep. Jane Harman (D. CA): $435.4 million
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