Government affairs

On Jan. 27, H.R. 567, the Revolving Door Pension Prevention Act, was introduced by Rep. Steve Israel (D-NY). The bill seeks to prevent members of Congress who become high-paid lobbyists from receiving government pensions, including the following systems identified as “covered benefits:”

• Civil Service Retirement System (CSRS), including the Thrift Savings Plan (TSP)
• Federal Employees Retirement System (FERS), including the Thrift Savings Plan
• Federal Employees Health Benefits Program (FEHBP), including enhanced dental and vision benefits

Members of Congress would still be able to cash out what they have already put into their TSP funds or annuities, defined in the bill as any lump-sum credit, contributions made into a representative’s account through TSP, or annuity payments to the spouse or survivor of a representative.

“Former members of Congress who have earned a million dollars or more in a single year as lobbyists are the last people who should be receiving federal pensions,” Israel said. “Instead of helping support millionaires, my legislation will ensure that taxpayer funds are spent helping the middle class and working families who need it most.”

For the text of the bill, click here.