There are two different versions of a 28th amendment circulating on the Internet. The most popular, although fake, version purports to subject members of congress to the same requirements for retirement as regular citizens, while the second version deals with overturning Citizens United v. FEC.
The most popular version of the proposed 28th amendment is supposed to prevent members of congress from retiring after serving single terms, while still receiving full federal retirement benefits for life. The idea for this amendment originated from an image that has been circulating the Internet, which shows a chart of the lifetime retirement benefits earned by members of congress, even after serving a single term. The release of this information led to wide public outrage, even though the information was false. Members of congress are not entitled to full retirement benefits after serving a single term.
The second version of the proposed 28th amendment deals with the unpopular US Supreme Court decision in Citizens United v. FEC, when the Supreme Court decided that placing limits on political contributions by individuals and corporations hampers their first amendment liberties. As a result, federal campaign contributions limits were lifted. Many experts argue that this decision opens the floodgates for private interest to dominate the elections. The proposed 28th amendment would revoke the legal standing of corporations as individuals. As such, they would not enjoy the rights of citizenship bestowed by the constitution to individuals and could not contribute to political campaigns under the guise of a corporate entity.