April 20, 2018
Analysts Compare Paul Ryan’s Retirement Finances to the Average American’s
House Speaker Paul Ryan’s (R-WI) announcement that he will retire at the end of his term makes him eligible for a pension in two years, when he turns 50. Based on the Federal Employees Retirement System (FERS) payments formula from the Congressional Research Service, Ryan would receive an annual pension payment of $84,930 if he remains on the job until next January.
Only 23 percent of all workers have a pension now, making Social Security all the more important to keep retirees out of poverty. The typical earned Social Security benefit received by a retired worker in the United States was a modest $15,983 in 2015, yet Speaker Ryan fought for years to lower that amount.
“Paul Ryan will be all set with his golden parachute, but he still does not understand what the average working American goes through to meet their family’s financial obligations and retire with dignity,” said Robert Roach, Jr., President of the Alliance.
“For years Speaker Ryan has worked to make retirement less secure for millions of Americans by inflicting deep cuts to Social Security and Medicare on us, both by privatizing and slashing them.”
“That is why we will hold President Trump to his commitment that he will not cut Social Security, Medicare and Medicaid,” President Roach added. “We can help the President do that by voting for candidates who have worked at real jobs and who truly understand working people in November.”