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Such elimination or actuarial reduction of immediate pensions would affect military retirees at an age when they are likely to have civilian job earnings nished by offering substantial cash bonuses to those involuntarily separated from the services beyond ten years and less than 30 years.
Members of Congress are eligible for a pension at age 62 if they have completed at least five years of service. They are eligible for a pension at age 50 if they have completed 20 years of service, or at any age after completing 25 years of service.nd Congressmen (unlike most civil servants) will do well no matter what retirement system they use. I checked this out. These members of Congress can also put up to 5% of their salary into the Thrift Savngs Plan, and it will be matched by federal funds. That is $8,500 a year matched with $8,500 from the government.