O. Benefits from Previous Employers

You may accept benefits from former employers while employed by the House, if those benefits are related to the work you performed for the former employer and not related to your position with the House.[111] These benefits include receiving a pension, participation in a retirement plan maintained by the former employer, deferred compensation, and severance payments.

You may receive a severance package from a former employer while employed by the House if the severance package meets the following criteria.

• Your former employer regularly gives its employees a severance package as part of the employees’ compensation for services performed,
• The severance package is compensation for services performed for the former employer prior to employment with the House,
• The severance package is no greater than that given to other similar employees who do not work for the House, and
• The severance package’s monetary value is not enhanced because of your employment with the House.

You may accept deferred compensation for work you performed prior to starting House employment. However, you may not receive deferred compensation for representational services before the federal government, even if the work was completed prior to starting your House employment.[112] See Outside Employment for information about representational services before the federal government.

If you have active contingency or referral fee agreements related to your former employer, please call the Committee for guidance on how to manage those agreements.

Example (Permissible). You participated in a 401(k) plan with your former employer. Your former employer matched all employee contributions. Your former employer allows former employees to keep their investments in the company 401(k) plan but does not match contributions for former employees. You may keep your investments in the company 401(k) plan without receiving any matching contributions.

Example (Impermissible). Your former employer does not routinely offer severance packages to departing employees, but it does offer a separation bonus for any departing employees who work in Congress. Because the separation bonus is tied to your House employment, you may not accept it.

Example (Permissible). Prior to working for the House, you were a real estate agent. All your outstanding contracts settled the week before you started your House employment, but you received the payment from your real estate broker after you started House employment. Because the deferred payment is for work done prior to joining the House, you may accept the deferred payment.