Senate pensioners to get 2% raise, but $2.1 million withheld
The Senate is set to vote this week on a measure that would increase the pension of Congressmembers, to an average of $207,700 a year, and give them $2,000 in bonuses and payouts, a change that would boost their pay from $202,700 to $237,700.
In addition, the Senate would raise the retirement age to 70, from 66, and raise the eligibility age for those eligible for Social Security benefits to 66, from 65.
Senate Majority Leader Mitch McConnell (R-Ky.) has said he would push the measure through with a simple majority vote if the bill does not pass, which is unlikely.
But Republicans have a slim majority in the chamber, and if the measure fails, it would not pass the Senate and face a potential Democratic filibuster.
Sen. John Thune (R – S.D.) has proposed raising the retirement pay to $270,000 and giving Congressmembers a raise of $1,000.
Thune said in a statement Thursday that he and Sen. Tammy Baldwin (D-Wis.) have agreed on a package that would raise pay by $1.25 million a year for Congress, including a $1 million bonus for each of the next two years.
The bonus would be made available to lawmakers who have worked for the Senate for more than four years, and would go to the people who served in their current offices for two years before their election.
The legislation also calls for the House to approve the measure and send it to the Senate, where it would be considered by the Senate.
A vote on the measure could come as early as next week.
This story has been updated with comment from the Senate Majority Leader.