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If Members leave Congress before reaching retirement age, they may leave their contributions behind and receive a deferred pension later. [1] The current pension program, effective January 1987, is under the Federal Employees Retirement System (FERS), which covers members and other federal employees whose federal employment began in 1984 or later.
The Constitution forbids Congress from meeting elsewhere. A term of Congress is divided into two "sessions", one for each year; Congress has occasionally also been called into an extra, (or special) session (the Constitution requires Congress to meet at least once each year). A new session commences each year on January 3, unless Congress ...
A term of Congress is divided into two "sessions", one for each year; Congress has occasionally been called into an extra or special session. A new session commences on January 3 each year unless Congress decides differently. The Constitution requires Congress to meet at least once each year and forbids either house from meeting outside the ...
These include increasing the age for required minimum distributions from retirement plans to pushing businesses to get more employees enrolled in plans.
On March 29, the House of Representatives voted 414-5 in favor of the Securing a Strong Retirement Act of 2022. If passed by the Senate, and then signed into law by President Joe Biden, the act ...
In the 2022 midterm elections, the Republican Party won control of the House 222–213, taking the majority for the first time since the 115th Congress, while the Democratic Party gained one seat in the Senate, where they already had effective control, and giving them a 51–49-seat majority (with a caucus of 48 Democrats and three independents).
The House of Representatives and Senate are working along similar lines to reform laws governing retirement plans like 401(k)s and traditional IRAs. Initiatives in both bodies raise the age cap ...
For example, Rep. Abigail Spanberger is running for governor in Virginia, Rep. Dan Bishop is running for attorney general in North Carolina, and about a dozen are running for a Senate seat. Of the ...