This was lifted from an interview with Warren Buffet from 2012 and a picture floating around the internet.
1. No Tenure / No Pension. A Congressman collects a salary while in office only. 2. Congress (past, present & future) participates in Social Security. All funds in the Congressional retirement fund move to the Social Security system immediately. 3. Congress can purchase their own retirement plan, just as all Americans do. 4. Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%. 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. Serving in Congress is an honor, not a career.