She just wanted in for the 5 years to get the $139k pension per year.
Source? I think that figure is wildly inaccurate.
For Members of Congress covered by FERS after December 31, 2012, the accrual rate for congressional service covered by FERS is 1.0% per year of service.
With 5 years service, the pension is more like $8700 per year and deferred until age 62.
$174,000 x 0.01 x 5 years = $8700 / yr
There were 619 retired Members of Congress receiving federal pensions based fully or in part on their congressional service as of October 1, 2022. Of this number, 261 had retired under CSRS and were receiving an average annual pension of $84,504. A total of 358 Members had retired with service under FERS and were receiving an average annual pension of $45,276 in 2023.
Members become vested in (legally entitled to) a pension benefit under CSRS or FERS after five years of service. The age and service requirements for retirement eligibility are determined by the plan under which a Member is covered at the time of retirement, regardless of whether he or she has previous service covered under a different plan.<a href="
https://www.congress.gov/crs-product/RL30631#fn13" name="ifn13" title="Active-duty military service can be counted toward retirement eligibility, but not toward five-year vesting. In order for military service to count toward the amount of one's retirement annuity, the individual must deposit in the Civil Service Retirement and Disability Fund the amount that would have been withheld if retirement deductions had been made during the person's years of military service, plus accrued interest on this amount. For more information, see CRS Report R40428, Credit for...">13</a> Depending on a Member's age and years of service, a pension can be taken immediately upon separating from service or only on a deferred basis. Likewise, the Member's age and years of service, as well as the starting date of the annuity, will determine whether he or she is eligible for a full pension or a reduced pension.
Retirement with a deferred, full pension is available at the age of 62 to former Members of Congress with at least 5 years of federal service.
Under
P.L. 113-67, the Bipartisan Budget Act of 2013, federal employees hired (or rehired with less than five years of FERS service) after December 31, 2013, are subject to further increased FERS contributions. Regular FERS employees first hired after 2013 contribute 4.4% of pay to their FERS annuity. Members of Congress first covered by FERS after 2013 and congressional employees first hired after 2013 also contribute 4.4% of pay. Currently, employing agencies contribute 13.1% of pay for regular FERS employees and Members of Congress, and 15.2% of pay for congressional employees. Members and employees enrolled in FERS also contribute 6.2% of pay up to the Social Security taxable wage base to the Social Security trust fund. Their employing agencies also contribute an additional 6.2% on the same wage base to the Social Security trust fund.
Social Security Payroll Taxes
All Members of Congress pay Social Security payroll taxes, regardless of their other retirement plan coverage. The Social Security tax rate of 6.2% applies to gross wages up to $160,200 in 2023, which is the Social Security
taxable wage base. The Social Security taxable wage base is usually adjusted each year for wage growth in the economy.<a href="
https://www.congress.gov/crs-product/RL30631#fn23" name="ifn23" title="Social Security taxes are levied on gross wages. They are not deducted for purposes of det ermining adjusted gross income. The taxable wage base increases only in those years where a Social Security c ost-of- l iving a djustment is payable.">23</a> Members of Congress, like all other workers covered by Social Security, pay Medicare Hospital Insurance taxes on all earnings at a rate of 1.45% of pay.