Why do congressmen get paid

First, Congress could simply pass a law changing its pay. According to the Congressional Research Service, the last time this was done was in , nearly 30 years ago. This method of changing salaries has never been used.

Members may earn incomes outside their official duties, but there are restrictions. They may earn no more than 15 percent of the Level II of the Executive Schedule, the table that determines the pay scale of high-level political appointees in the Executive Branch. Aside from limiting how much Members may earn moonlighting, there are also restrictions on how they may do so. They pay into the system just like everyone else. Thus all Members of Congress, no matter how long they have been in office, have been paying into the Social Security system since January The projected adjustment of 0.

Since the percent adjustment in Member pay may not exceed the percent adjustment in the base pay of GS employees, Member pay is also frozen during this period. Pay for Members of Congress in and will remain at the and level. Once elected to Congress, members are in a rare and exclusive club. In the history of our nation, there have only been 10, House members and 1, U. Outside income is restricted to eliminate conflicts-of-interest. However, we found significant loopholes in the ethics laws.

Who knew that powerful members can be employed by federal contractors based in their districts? For example, during a year period, Vanderbilt University employed Rep. Other examples of members in both parties with significant conflicts are detailed in our previous piece at Forbes. A member vests a taxpayer funded pension after five years of service and is eligible to receive a pension as early as Full pensions are normally conferred at Filibusters and government shutdowns tend to dominate the headlines.

In fact, in , the House of Representatives was scheduled to work just out of work days. They do, however, receive some income after they retire. Are you trying to get together your own retirement savings? Speak to a financial advisor today.

Those in leadership make a bit more. Congressmen earn this annual salary for the duration of their terms.