Pension, perks await retiring US presidents

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(NewsNation) — It’s obscurity adjacent what the mean firm CEO earns, but the yearly wage of the president of the United States whitethorn beryllium the envy of astir Americans: $400,000. That does not see lodging astatine the White House, question connected Air Force One, surviving allowances, entertainment, unit and overmuch more.

When a president leaves office, the checks and different benefits continue. Here’s a look astatine immoderate of those benefits, and however they came about.

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What benefits bash each erstwhile presidents get?

The Former Presidents Acts of 1958 provides for a pension and respective different benefits. All presidents person wealth for bureau space, equipment, staff, travel, amusement and supplies.

If they were enrolled successful the Federal Employees Health Benefits programme for astatine slightest 5 years, erstwhile presidents get the aforesaid wellness benefits arsenic different erstwhile authorities workers.

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Ironically, Jimmy Carter, America’s longest-living erstwhile president, was not eligible for that programme since helium was president for lone 4 years and held nary different national authorities post.

One-term president George H.W. Bush, who was vice president for 8 years, arsenic good arsenic serving successful Congress and arsenic an ambassador, was eligible for wellness benefits but declined them.

Former presidents are guaranteed a ceremonial with afloat honors and burial astatine Arlington National Cemetery. But lone 2 presidents, John F. Kennedy and William Howard Taft, are buried there.

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Biden’s large pension payday

When Joe Biden leaves the White House helium volition beryllium eligible for the modular yearly pension that immoderate furniture caput receives: $246,424. But Biden besides served 8 years arsenic vice president and spent 36 years arsenic a U.S. legislator from Delaware. All 3 pensions volition full $413,000 a year, more than helium made arsenic president.

The national authorities places precise fewer limits connected aggregate pensions, and lone a fewer states prohibition oregon bounds “double dipping,” successful which a authorities worker retires, collects a pension, and past returns to enactment successful different authorities job.

For example, Burlington County, New Jersey, passed a instrumentality banning region departments from hiring anyone who is collecting a "taxpayer-funded status pension." 

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A president's different post-White House benefits

Donald Trump has received much than $3 cardinal successful pension, office, printing, travel, and different allowances since his archetypal word ended.

From 2016 to 2024, Bill Clinton has received astir $13 cardinal successful pension and different benefits from 2016 to 2024. George W. Bush has been paid conscionable implicit $12 cardinal successful those aforesaid 8 years. Barack Obama has received astir $10.5 million. And Jimmy Carter, celebrated for his frugality, has received conscionable implicit $5 cardinal successful that aforesaid time. Clinton, Bush and Obama whitethorn besides person pensions from different authorities positions they held.

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Has a president been denied oregon refused benefits?

To date, nary president has ever been denied a pension. The Former Presidents Act of 1958, which established the existent pension and benefits system, denies benefits to a president who has been impeached and convicted by Congress. Richard Nixon avoided that destiny by resigning. Bill Clinton and Donald Trump were impeached, but not convicted.

Former presidents and their spouses whitethorn person extortion by the U.S. Secret Service for life. Eleven years aft his resignation, Richard Nixon relinquished his extortion – the lone erstwhile president to bash so.

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Why bash presidents person pensions?

A fewer years aft leaving the White House successful 1953, Harry S. Truman lobbied for fiscal support. Claiming dire fiscal straights, Truman wrote to House Speaker Sam Rayburn successful 1957 saying helium mightiness person to crook to the backstage assemblage oregon immoderate different root beneath the dignity of a erstwhile president. 

The upshot was the Former Presidents Act of 1958, which established the strategy of pension, allowances and bureau expenses successful effect today.

But successful 2021, University of Colorado Law School prof Paul Campos debunked the Truman “poverty” claim.

“Harry Truman was, arsenic a nonstop effect of being president, a precise affluent antheral connected the time helium near the White House, with an estimated nett worth, successful comparative economical terms, of astir $58 cardinal successful 2021 dollars,” Campos wrote.

Campos claims that Truman misappropriated astir each of the statesmanlike disbursal relationship that Congress acceptable up astatine the opening of his 2nd term. Truman also, according to Campos, did the happening helium claimed that helium wouldn’t do: exploit his presumption arsenic a erstwhile president.

“By the clip Congress passed the FPA successful effect to Truman’s assorted claims that helium was astatine slightest teetering connected the brink of imaginable fiscal distress, Truman’s nett worthy was, successful comparative economical terms, astir $72 cardinal successful 2021 dollars,” Campos wrote.

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