Almost 15,000 federal retirees, including former members of Congress, enjoy six-figure pensions right now. And if that isn’t galling enough? The pension system providing these cushy payouts is ridiculously insolvent, facing a $674.2 billion shortfall.
So much for cutting pork and careless spending out of Washington. I guess politicians only use that philosophy when it doesn’t apply to themselves.
To be clear, not all federal retirees get a mammoth payday. Some folks were middle managers who now get a relatively modest retirement at an average of abour $31,000 annually. But a small group – about one of every 125 retirees (civilians mind you, not the military) collects more than $100,000 in benefits annually. Read