(GovExec) A new bill in the House proposes ending the pension benefit that members of Congress are currently eligible for after five years of service.
Sponsored by Rep. Mike Coffman, R-Colo., H.R. 423 would eliminate defined-benefit pension plans for members of Congress, keeping only the “right to continue participating in the Thrift Savings Plan.” In a statement released on Jan. 24, Coffman said he submitted the bill to encourage members of Congress to “share in the sacrifice” during hard economic times and “lead by example.”
