Prediction: The following bill would have near-universal public support. From The Hill:
While vast numbers of the private-sector workforce have seen their pensions vanish over recent decades and find themselves with precarious, market-based 401(k) plans, members of Congress receive both a pension and a quality employer-match plan.
According to at least two lawmakers, it’s time for elected officials to join the real world.
“If you compare the private sector to what the folks in the federal government get, in the federal government you not only get healthcare benefits, you get a 401(k) that has a higher match than most private-sector companies,” Rep. Tim Griffin (R-Ark.) told The Hill.
“Then on top of that you get the pension,” Griffin said. “Most private-sector folks don’t get a pension.”
In an effort both to identify cost savings amid the nation’s growing debt crisis and to give federal lawmakers more credibility in addressing related financial issues, Griffin and Rep. Mike