Wehrwolfen
Banned
- Joined
- May 11, 2013
- Messages
- 2,329
- Reaction score
- 402
- Gender
- Male
- Political Leaning
- Conservative
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?
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?