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Author Topic: Paul Ryan is just two years away from collecting a federal pension — here’s how much he’ll get  (Read 676 times)

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Offline endicom

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Paul Ryan is just two years away from collecting a federal pension — here’s how much he’ll get
« on: April 12, 2018, 08:18:36 pm »
Market Watch
Robert Schroeder
Apr. 12, 2018

Retiring House Speaker Paul Ryan hasn’t said much about his future, but, like other members of Congress, the soon to be former “weekend dad” can at least count on a pension and other perks after he leaves Capitol Hill.

Ryan, at 48, is just two years away from being eligible for a pension under what’s known as the Federal Employees’ Retirement System. Under the formula laid out in this Congressional Research Service study, Ryan would be eligible for an annual pension of nearly $76,000, based on 20 years as an elected House member. Throw in his years as a congressional staffer, and the total rises to $84,930, says researcher Alex Baumgart of the Center for Responsive Politics.

More... https://www.marketwatch.com/story/paul-ryan-is-just-two-years-away-from-collecting-a-federal-pension-heres-what-hell-get-2018-04-12
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Offline endicom

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Re: Paul Ryan is just two years away from collecting a federal pension — here’s how much he’ll get
« Reply #1 on: April 12, 2018, 08:24:23 pm »
Thrift Savings Plan

Eligibility
FERS employees are eligible to join TSP immediately upon starting work and may join at any time thereafter. Prior to June 22, 2009, new employees had to wait at least one year before receiving matching contributions (including Agency Automatic Contributions); after this date employees were eligible for automatic contributions from day one of employment, and are immediately eligible for matching contributions once the employee begins contributing to the TSP.

CSRS employees and members of the uniformed services may join at any time.

https://en.wikipedia.org/wiki/Thrift_Savings_Plan
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Offline WilliamVA

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Re: Paul Ryan is just two years away from collecting a federal pension — here’s how much he’ll get
« Reply #2 on: April 12, 2018, 09:12:59 pm »
Nah!  The minimum retirement age for FERS Basic Benefits for an individual born in 1970 or later (48 this year) is 57....he may withdraw
his contributions, or defer until he is age 62.   If he put money into the Thrift Savings, as I read it he can withdraw, or move it to a standard
401K,  the third phase of FERS is Social Security, with a minimum age to collect of 62, (disability not included).

Ryan, prior to election in 1999 might have accumulated two years time working as an intern, and a speech writer.

Employee's coming aboard after 1983 were required to go FERS,  CSRS was not a option.
 

 
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