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Friday, June 17, 2011

Weiner’s Pension, Benefits Could Top $1 Million -- This is how the corrupt are rewarded

While Rep. Anthony Weiner may no longer have the benefit of Congress’ generous health care plan once he resigns, he will still be able to collect his pension and other benefits that could total more than $1 million during his lifetime.

According to an analysis of his available benefits by the National Taxpayers Union, the New York Democrat’s pension and a savings plan lawmakers have access to similar to a 401(k) could be worth $1.12 million to $1.28 million.

At 46, Weiner will not be eligible for his pension for another decade, at which point he could begin drawing a reduced rate of $32,357 a year, according to NTU. If he waits until age 62 to begin drawing his pension, he will receive his full benefits, or $46,224, according to NTU’s calculations.

Additionally, if Weiner aggressively invested in the Thrift Savings Plan, his balance would be roughly $216,000, the organization said. (read more)