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Jesse Jackson Jr. is receiving Social Security, federal retirement system payments ($

Wehrwolfen

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By Katherine Skiba
6/30/13


His age and his tenure in Congress — almost 17 years — are short of the mark for a standard retirement annuity from the Federal Employees Retirement System, or FERS. Members of Congress can collect a pension from FERS starting at age 50 if they have completed 20 years of service, or at any age after 25 years of service, according to the Congressional Research Service.
But Jackson appears eligible for another FERS program that pays out "disability retirement" payments.
Under program rules, potential payments in the first year would total $8,700 a month — or $104,400 a year. The potential payments would drop to $69,600 annually in subsequent years.
Any payments are subject to income taxes, according to officials at the federal Office of Personnel Management. Citing privacy rules, OPM officials would not talk about Jackson Jr. but provided general information about FERS benefits.
Under the rules, whatever FERS "disability retirement" benefits a lawmaker receives are adjusted downward if he or she begins collecting Security Social disability payments.


(Excerpt)

Read more:
Chicago-area Local News - chicagotribune.com


Even when caught in a criminal act Jesse Jackson Jr. comes up smelling like roses. I wonder how much more is has been given not to tell all on the rest of the criminal cast that was involved?
 

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Re: Jesse Jackson Jr. is receiving Social Security, federal retirement system payment

Your link doesn't go to the story.

Anyway, what are the actual benefits? Its fine to hear "potential" benefits, but what is he actually getting?
 

Wehrwolfen

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Re: Jesse Jackson Jr. is receiving Social Security, federal retirement system payment

Your link doesn't go to the story.

Anyway, what are the actual benefits? Its fine to hear "potential" benefits, but what is he actually getting?



Jesse Jackson Jr. is receiving Social Security, federal retirement system payments
While awaiting sentence, ex-Rep. Jesse Jackson Jr. is receiving payments from Social Security, federal retirement system - chicagotribune.com

All you had to do was to cursor down and click the story lead....
 

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MMC

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Re: Jesse Jackson Jr. is receiving Social Security, federal retirement system payment

Link still fails.

Wasn't that hard to pick up in the news being who he is.....huh?

Jesse Jackson Jr. is receiving Social Security, federal retirement system payments.....

Jackson may be eligible for $8,700 a month in disability, but defense lawyers said payments could be suspended.

Brittney Manchester, of the Office of Personnel Management, provided a citation from federal law on how a federal lawmaker is deemed eligible for retirement disability:

"A member who completes at least 18 months of service as a member and is found by the (OPM) to be disabled for useful and efficient service as a member (of Congress) because of disease or injury shall be retired on the member's own application."
A lawmaker may file a disability claim within one year of "separation from service," the OPM said.
OPM would not discuss Jackson Jr. without a signed waiver from him. His lawyers did not respond to a Tribune request for a waiver.

Prosecutors are seeking from Jackson Jr. both a forfeiture of $750,000 and restitution of $750,000. He also could be hit with a fine as high as $100,000. Sandi Jackson, in her plea deal, agreed to pay $168,550 in restitution.

Jackson Jr.'s lawyers said his family is "in significant financial peril" and that he and his wife "have a negative monthly cash flow."

They said the couple's net worth is lower than his agreed-upon forfeiture of $750,000 and argued that he should not pay both a forfeiture and restitution.

The lawyers said the couple's net worth was made up largely of the equity in their two homes — one on Chicago's South Side and another in the DuPont Circle area of Washington, D.C. — and two retirement accounts and their automobiles. Prosecutors on Friday asked for a judge's permission to seize the Jacksons' homes and a retirement account worth nearly $80,000 if he is unable to pay the forfeiture.

Jackson Jr.'s other potential avenue for benefits is Social Security Disability Insurance, which also may be subject to income taxes. Under SSDI, a spouse caring for a disabled person's child under the age of 16 also may be eligible for disability benefits.....snip~

While awaiting sentence, ex-Rep. Jesse Jackson Jr. is receiving payments from Social Security, federal retirement system - Page 2 - chicagotribune.com

He may not collect while he is doing time for the Disability. But each of his kids can and off of what his work was.
 

Wehrwolfen

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Re: Jesse Jackson Jr. is receiving Social Security, federal retirement system payment

You can lead horses to water to drink and sometimes they're too obstinate and will not drink.
 
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