Rep. Coble proposes increasing lawmaker pension vesting years |
Written by David Horn
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Wednesday, 13 July 2011 10:59 |
(WASHINGTON, D.C.) -- North Carolina Congressman Howard Coble is proposing a bill that would up the number of years a member of Congress would need to serve in order to become vested in the congressional pension plan. Speaking on the House floor on Tuesday, he said the bill would raise the time for becoming vested in the plan to 12-years.
"A member could serve six two-year House terms, two six-year Senate terms or a combination thereof to become eligible to participate in the congressional pension plan," said Coble. The current years of service needed to become vested is five years.
Coble, who has been vested for some time, has never taken his Congressional pension. He believed there should be more of a commitment from a lawmaker to be vested in the plan.
(Thanks to: WSJS)
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Last Updated on Wednesday, 13 July 2011 11:01 |