(CNNMoney) — Want to retire with plenty of savings? Consider running for office.
Members of Congress receive retirement benefits that are far more generous than those earned by the average worker, according to a recent Bankrate analysis.
Not only do congressional representatives and senators earn the guarantee of a monthly pension check — a benefit that has become increasingly rare for most U.S. workers — they also receive Social Security payments and can opt to pay into the federal Thrift Savings Plan, a 401(k) style-plan with fees that are far lower than most retirement plans.
As a result, longtime members of Congress can easily retire with six-figure annual incomes for life.
“If you can get elected to Congress and stay there, you can retire pretty well,” said Chris Kahn, a Bankrate analyst, who conducted the research.
Few workers enjoy such generous benefits. While most public workers still receive pension benefits…
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