As politicians in New York figure out what’s next for the U.S. House seat vacated by Anthony Weiner, there are some financial odds and ends to consider about the disgraced Democrat.
Weiner, first elected in 1998, could draw on pension and benefits worth more than $1 million in his lifetime, according to calculations by the National Taxpayers Union. Details were reported today by Roll Call, National Journal and others.
Weiner, now 46 years old, could receive $46,224 annually if he waits until age 62 to draw his pension. If he opts to receive it early, starting at age 56, he would receive $35,357 annually.
Also, members of Congress participate in what is called the Thrift Savings Plan, sort of like a 401(k). NTU estimates Weiner has a balance of $216,011 in that savings plan, if he had been investing aggressively in it.
There’s also the matter of Weiner’s unused campaign funds. Weiner had more than $312,000 in the bank as of January, according to records kept by the non-partisan Center for Responsive Politics.
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6 Responses
Um….
What’s the big deal here? The average person with food stamps, Medicare and section 8 worth ($40,00 a year) could top 1,000,000 in just 20 years.
I actualy don’t think this is so bad! He didn’t leave because of doing a poor job he left because he did something stupid, so why should he lose his pension?
One shouldn’t multiply an annual pension by life expectancy to get a “shock” value number. He could just as easily keel over on his 55th birthday and not get a dime though his widow would probably get something (He’s probably also covered by social security). The “Thrift savings plan” (equivalent to a 401K) are savings – was he that frugal? He gets a big tax bill if he runs off with his campaign funds – probably he’ll use them to buy his way back into politics once the public image is of him pushing the baby carriage.
Given his upper class lifestyle, he won’t be able to live on the pension and will need a real job of some sort.
no wonder obama said “if i would be him i would resign!
I don’t see what the problem is. He earned the pension, and while what he did was despicable, it was not a crime.
#3 Akuperma,
Not only will he get a big tax bill, he’ll also get an indictment, or at least a lawsuit. Federal law no longer permits conversion of campaign funds for personal use.