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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.
A term starts on January 3 following the election in November. The U.S. Constitution requires that vacancies in the House be filled with a special election. The term of the replacement member expires on the date that the original member's would have expired. The Constitution permits the House to expel a member with a two-thirds vote.
In the 1994 U.S. elections, part of the "Contract With America" Republican platform included legislation for term limits in Congress. After winning the majority, a Republican congressman brought a constitutional amendment to the House floor that proposed limiting members of the Senate to two six-year terms and members of the House to six two ...
Get ready for more changes to the U.S. retirement system. Congress is again aiming for the U.S. retirement system less than two years after signing the Secure Act into law. The House and Senate ...
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Of the 33 senators whose terms are up after this year, seven have said they're not running for reelection. ... to retire at the end of this Congress, and about half of them are running for another ...
The Former Presidents Act (known also as FPA; 3 U.S.C. § 102 note (P.L. 85-745)) [1] is a 1958 U.S. federal law that provides several lifetime benefits to former presidents of the United States who have not been removed from office solely pursuant to Article Two of the United States Constitution.
Read Next: 3 Things You Must Do When Your Retirement Savings Reach $50,000 However, if you want to ensure your transition from working to enjoying retirement is smooth and worry-free, now is the ...