Chris Dodd to retire (politics)
 

Here is one way to deal with passing unwanted legislation.

http://www.washingtonpost.com/wp-dyn...600023_pf.html

I would love to know what his 'severence package' is like. :03:

Press the submit button just ONCE. :stare:

I did... once every 5 minutes :haha:

sorry about that.

LMAO! :har:

Bye bye! :yeah:

Wow here goes another one !

http://news.yahoo.com/s/ap/20100105/..._dorgan_senate

From what I understand 3 are retiring. This is only a start. What do mice do when the ship is sinking?

Well there is no severance package as he is not being fired, he is retiring.

Since Dodd joined congress in 1975 (35 years ago) he is covered either by the old Civil Service Retirement System but may have switched to the new Federal Employees Retirement System.

Despite popular opinion, members of congress are covered under the same retirement program as all other federal employees (with slight exceptions for USPS employees)

Since Dodd is 65 years old, he is eligible to receive retirement pay immediately upon leaving office.

If he elected to be covered under the old CSRS, it would be difficult to calculate exactly how much he will receive as I don't know how much additional salary he choose to contribute to his retirement. The Base Employee contribution is 7-8% with the government matching the contribution. If he choose to contribute more than 8% (up to a total of 10%) there is no matching government contribution.

The salary of a Senator in 2009 was $174,000. The average retirement pay in congress under CSRS is a little over $60,000 per year

If he elected to be covered under FERS the basic annuity pays 1 percent of the high-3 average for each year of service. If annuitant is aged 62 with at least 20 years of service, add 10 percent (multiply by 1.10). There are some complicated rules about how this is calculated. FERS includes the basic plan, Social Security, and a TSP. Employee contribution is 1% per pay period and can be increased with matching funds from the government.

The average retirement for members of congress retiring under FERS is just under $40,000 per year. Chances are very good that Dodd elected to stay with CSRS I think.

As for health insurance, Dodd will continue to pay the same premium that he paid while on "active duty" under the Federal Employee Health Benefit program, which is the same program all Federal Employees are in (with exceptions for the USPS).

Hmmm...looks like several leading Democrats are quitting politics... just saw this on ABC news; Dodd, Dorgan, Gov of Colorado and top candidate for Gov of Michigan.

Any time we can get any politician to not run for re-election is a win for America.

Now if we can only get the GOP to match we could be headed in a good direction.

One-for-one retirement that is my idea of bipartisianship. :yeah:

Sure, thet are jumping ship. I suspect they do not want to be part of the floundering legacy of Obama. This healthcare bill is about as popular as a draft card at a hippy love in. Notice how cap and trade got bushed under the carpet.....aaaannnnnnddddd, climate change as we are calling just went another year with nothing being done. However, there was a few clunkers taken off the road. Yes sir, 365 days with much of nothing.

BTW, the money Obummer returned in everyones paycheck last year, that has just been taken back. My wife first check had fed tax raised. :shifty:

Yes of course... no 'severeance' package.... "Thank you Mr. Dodd for shaping the healthcare takeover".

Yes I rest assured that no recompense was promissed whatsoever.

Thank you.
I was contemplated how to state the obviouse when I reached your post, which mirrorred my own thoughts.

I don't know about the others but Dodd is quitting because that will let the Dems nominate a candidate they think has a better chance of winning the next election.

Of course the Connecticut Democratic party machine thought Joe Lieberman couldn't win either.

Heh, I'd buy into that - on an even playing field. Except it is telling how there's more like a 1 for none ratio, favoring the leaders.

Perhaps they are trying to quit while ahead?