
03-05-2017, 07:54 PM
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Quote:
Originally Posted by Guest
So what is the source of this information? And if true this center left person would be beyond P***ED!
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Yes, it is possibly true (no one knows for sure)...if he qualifies for a 'disability pension.'
Jesse Jackson, Jr. Collects $8,700 Per Month in Disability Payments?
Quote:
They speculated that Jackson was apparently eligible for a FERS program that pays “disability retirement” payments, and under that program, Jackson would be eligible to collect 60% of his previous salary (minus any Social security benefits) for 12 months, and 40% of his previous salary afterwards. Since the standard salary for members of Congress at the time Jackson resigned his House seat was $174,000 per year, he could theoretically collect 60% of that amount ($104,400, or $8,700 per month) for up a year.
It’s uncertain whether Jackson actually applied for, was approved for, and/or has collected any such disability retirement payments, though. As the Tribune found, privacy laws preclude government officials from disclosing that information, and it’s possible that reform measures passed by Congress in recent years might prevent him from receiving FERS disability retirement payments.
The question of how much money Jackson might someday garner from his Congressional pension (he isn’t eligible to collect anything until 2021, when he turns 56) depends upon a number of factors. In general, according to an August 2013 Congressional Research Service (CRS) report on Retirement Benefits for Members of Congress, the accrual rate for pension benefits under FERS is 1.7% for the first 20 years and 1.0% for each year
beyond the 20th. Since Jackson served in Congress for 17 years, the formula for his basic retirement annuity would be:
[Previous salary * .017 * years of service] = [$174,000 * .017 * 17] = $50,286
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And yes, I too would be pi$$ed (if true) that people can take advantage of this apparent loophole that 'depression' from being convicted of a crime ...qualifies for a disability pension.
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