Representative Yoder Introduces Pay-Cut; Pension Elimination Bills01/10/13
Representative Yoder Introduces Pay-Cut; Pension Elimination Bills
WASHINGTON, D.C. – To begin the 113th Congress, Representative Kevin Yoder continued his efforts to help reign in federal government spending by introducing two separate bills to cut the salary of Members of Congress, and to eliminate the Federal Employee Retirement System (FERS) pension program for Members no longer serving in Congress.
The first bill Representative Yoder introduced, H.R. 150, applies a 5 percent salary cut for all Members of Congress, as well as eliminates the automatic yearly cost-of-living adjustment (COLA) raise. Presently, the law states automatic COLA raises kick in each year unless Members vote and reject the raise. The second bill, H.R. 151, eliminates the FERS program for Members of Congress. By law, all Members are currently required to participate in the Federal Employees Retirement System, and are not able to opt out of the system. FERS then pays pension benefits to Members if they have served in Congress for at least 5 years before retiring or leaving office. Both bills have been referred to the House Committee on Administration and the House Committee on Oversight and Government Reform.
“Reducing benefits and pay for Members of Congress is an important step towards restoring accountability and trust with the American people," stated Congressman Yoder. "In the 113th Congress, I will continue my efforts to take needed steps to bring government spending under control. In this effort, Congress must show the American people that it is willing to cut its own costs and eliminate its own benefits. The vast majority of the American people do not receive lifelong pensions, Members of Congress should not either. These tough economic times require all of us to sacrifice to rebuild this country, certainly our elected representatives can lead the way.”
For more information and the complete text of the legislation Congressman Yoder introduced, click on the respective bill numbers below.
H.R. 150 – Cutting salaries for Members of Congress.
H.R. 151 – Terminating the federal pension program for Members of Congress.