I was recently asked a question after guest writer Dennis London shared his legislative report on the blog. This piece contains a topic about retirement benefits.
Is this true of all TX Reps and Senators-after 4 term they get 6 figure retirement for life?
Texas legislators who serve at least eight years start collecting pension benefits at age 60. Lawmakers that serve 12 years or more can start collecting at 50.
The benefits aren’t based on their pay, which is about $600 a month but on the $125,000 pay of state district judges. The formula ($125,000 x .023 x years of service) means a pension of $2,875 for every year they were in office.
It adds up. That eight-year lawmaker would get $23,000 annually starting at age 60. After 12 years? $34,500, starting at the ripe old age of 50. Many can retire to six-figure incomes.
Your county level politicians get a life-time retirement after 8 years in office as well.
In theory, 8 years as an elected official in county government, 8 years at state and 6 years in Congress would equal out to three retirement checks. Not bad for 20 years.
Do you know anywhere else I can work a part-time job for 8 years for minimum wage and earn a lifetime retirement based on a $125,000 a year paycheck?
Any wonder why our legislators will do almost anything the Speaker, or the Democrats want? They better, or they will lose out on that sweet retirement package.
This is another reason why we need to replace career politicians and renew the Texas GOP with real conservatives.