In a surprise announcement, Representative Marjorie Taylor Greene (R-GA) said she will resign from Congress on January 5, 2026 \u2014 giving her 46 more days in office. The timing matters more than people may realize. Under federal law, Members of Congress qualify for a pension, funded in part with taxpayer contributions, only after completing five full years of service. Greene began serving on January 3, 2021, and her departure date leaves her with 1,829 days of service \u2014 five years and three days, just enough to meet the eligibility threshold. Her pension would start at $8,717 at age 62, and based on actuarial data, could total more than $265,000 over her lifetime.<\/p>\n
Under the Federal Employees Retirement System (FERS), Members qualify for a full, deferred pension at age 62 if they have completed at least five years of service. Because Greene entered Congress after 2013, she falls under the standard FERS pension formula for Members. Her pension is based on three factors: how long she served in federal roles, the average of her highest three years of salary (\u201chigh-3\u201d), and an accrual rate of 1 percent per year. Rank-and-file Members earn $174,000 annually \u2014 a figure that has remained frozen for years due to Congress voting repeatedly to block its own cost-of-living adjustments (the subject of a lawsuit by several former Members that could cost taxpayers $70 million<\/a>).<\/p>\n Using the FERS formula, Greene becomes eligible for a starting annual pension of $8,717 in 2036, when she reaches age 62. Because she divorced in 2022, it is unclear if the standard spousal-annuity reduction would apply to her benefit. Greene\u2019s estimated pension amount is lower than the average<\/a>, according to available data NTUF compiled from the Congressional Research Service.\u00a0<\/p>\n Based on the Social Security Administration\u2019s life-expectancy calculator<\/a>, a woman Greene\u2019s age today can expect to live roughly another 34.2 years \u2014 putting her projected lifespan at about 85 years. If she begins collecting her pension at age 62 in 2036, she could receive benefits for an additional 23 years. Assuming an average 2% annual cost-of-living adjustment, her total lifetime payout would exceed $265,000. That amount could be higher or lower depending upon actual inflation over time. Under a law enacted in 2004, members are not able to opt out<\/a> of FERS.<\/p>\n As part of a major 1983 reform that aligned federal retirement benefits with the Social Security system, Members of Congress began paying into Social Security like most American workers. Under FERS, lawmakers also have access to the Thrift Savings Plan\u2014a defined-contribution account with employee and agency contributions\u2014allowing them to supplement their pension with additional retirement savings.<\/p>\n For decades, National Taxpayers Union and NTU Foundation have tracked<\/a> and analyzed<\/a> congressional pensions and other retirement benefits<\/a> to promote transparency and accountability. Most recently, we estimated that former House Speaker Nancy Pelosi\u2019s retirement after this Congress will net her an annual pension starting at nearly $108,800<\/a>, among the highest available under FERS. Our research has informed bipartisan efforts such as the Honest Leadership and Open Government Act, the STOCK Act, and 2024\u2019s No CORRUPTION Act<\/a>, which aim to strengthen ethical standards and maintain public trust in government.<\/p>\n","protected":false},"excerpt":{"rendered":"In a surprise announcement, Representative Marjorie Taylor Greene (R-GA) said she will resign from Congress on January 5,…\n","protected":false},"author":2,"featured_media":301132,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[45,49,48,135220,133,131,132],"class_list":{"0":"post-301131","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-congress-pay-perks","12":"tag-finance","13":"tag-personal-finance","14":"tag-personalfinance"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/301131","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=301131"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/301131\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/301132"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=301131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=301131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=301131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}