Us Congress Senate Bill SB87

Us Congress 2023-2024 Regular Session

• Introduced: 1/25/23
• Refer: 1/25/23

Caption

End Pensions in Congress Act or the EPIC Act This bill excludes future Members of Congress from the Federal Employees Retirement System (FERS) and requires Members currently enrolled in FERS or the Civil Service Retirement System to opt in to continue their enrollment.

Impact

The termination of these pensions for future Members of Congress is intended to address public concerns regarding the perceived extravagance of legislative retirement benefits. By limiting these benefits, the bill could reshape the landscape of government employment, potentially influencing who is willing to run for office. The proposed changes aim to foster a climate of reform by demonstrating a commitment to fiscal responsibility and align legislators’ interests with those of the public they serve. This could lead to increased scrutiny and debate over how government officials are compensated and incentivized to serve.

Summary

SB87, known as the 'End Pensions in Congress Act', seeks to amend the Federal Employees Retirement System (FERS) and the Civil Service Retirement System (CSRS). The bill proposes to terminate retirement benefits for Members of Congress, effectively preventing any future congressional member from enrolling in these retirement systems. Instead, current members will have the option to 'opt-in' if they wish to maintain their participation. If enacted, this bill will mark a significant shift in how retirement benefits are administered for legislators, highlighting a growing trend of reform aimed at enhancing accountability and reducing costs associated with congressional pensions.

Contention

Opponents of SB87 may view the elimination of pensions as a potential deterrent for qualified individuals considering a career in public service. Critics argue that while the intentions might be positive, removing financial security could result in a significant drop in experienced professionals from entering or remaining in Congress. Supporters, on the other hand, argue that such measures are necessary to hold elected officials accountable and promote a culture of public service over personal gain. The debates surrounding this bill encapsulate broader discussions about government spending, public trust, and the ethical standards expected from those in power.