Rep. Nugent: Let Congress Forgo Pensions

Members of Congress now receive a pension for life, even if they only serve two terms – whether they want to or not. Rep. Richard Nugent, R-Fla.,Wednesday introduced legislation to change that, because he doesn’t believe congressional service should be a career.

“This is all about serving the American people. One of the things that I said when I got elected was that I wasn't going to enrich myself on the backs of the American people,” Nugent told Fox News’ Neal Cavuto, after acknowledging his colleagues on Capitol Hill were unlikely to embrace his bill – the Congress Is Not a Career Act.

“So, this is the first step. It’s about bringing accountability back. It really is,” Nugent said. “Our founding fathers, I don't believe they meant for this to be a career. I have already had a great career in law enforcement. And now it's about serving the people.

“It was the 108th Congress that actually passed this, that made it where you could not opt out of either the TSP, thrift savings plan, or the pension,” he said. “You just have to [serve] two terms to start collecting a pension. And you would start at around $14,000 a year – and it could go up to $130,000 a year based upon how long you serve.

“For the rest of your life.”