I agree with most of it - I have a problem with term limits - but for the most part, this is common sense and what every citizen of the United States is forced to live with.
*Congressional Reform Act of 2012*
1. No Pension.
A Congressman/woman collects a salary while in office and receives no pay when they're out of office.
99.999999% of working class people in the United States are not particpants in a pension plan anymore!
2. Congress can purchase their own retirement plan, just as all Americans do.
They can start their own 401k, 403b and IRA accounts - based on their take home pay.
3. Congress (past, present & future) participates in Social Security.
All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security system, and Congress participates with the American people. It may not be used for any other purpose.
4. Congress will no longer vote themselves a pay raise.
Congressional pay will rise by the lower of CPI or 3%.
Most American workers haven't seen more than a 2% pay increase in over 4 years!
5. Congress loses their current health care system
and participates in the same health care system as the American people.
6. Congress must equally abide by all laws they impose on the American people.
it is unpatriotic to short-sell America for their own profit!
8. All contracts with past and present Congressmen/women are void effective 1/1/12.
The American people did not make this contract with Congressmen/women.
Congressmen/women made all these contracts for themselves.
Serving in Congress is an honor, not a career.
The Founding Fathers envisioned citizen legislators, so ours should serve their term(s), then go home and back to work.