2. Substantial pension paychecks
If you think that the salary of a president, while they are in office, is great – $400,000 – well, you need to hear how much money they will get after leaving the office. Yes, the former commanders-in-chief will receive a taxable pension from the Secretary of the Treasury every year for the rest of their lives. The pension begins right when the president formally leaves office on Inauguration Day at noon.
The amount of money they get is the same as the salary of a Cabinet secretary (Executive Level I). From 2020 until 2022, this was $219,200 per year, but since January 2022, the former presidents will receive more money from the state, more precisely $226,300 per year. For example, Barack Obama received a presidential pension of $207,800 a year.
Another thing is that if the spouse of the president relinquishes their right to any other pension, they can too get a pension of $20,000 per year. Again, as with the president, this perk is for life.
Now, what happens if the president resigns before their official terms expire? Well, according to the law, they will get the same benefits as any other former president. This measure was decided by the Justice Department in 1974.
However, if the president is ousted from office as a result of impeachment, they will get no benefits.
10 Responses
When Slick Willie (Bill Clinton) left office, Hillary said they were “dead broke”. Bullshit. Slick Willie has his mansion and Hillary has her very own mansion. They have no idea what the definition of “broke” is.
Tax payer perks are the one thing that has to be investigaterd asGov’t corruption.
The 1958 former presidential act should be revised, enough of this and make the becoming a president a little more difficult and not all the benefits as to what i have seen they dont deserve all this. Just 1 year secret service protection, for life for get it and just 1/2 or their pay on retirement, and all of the other allowances forget it like the offices allowances, this is crazy and can save much money
and believe me cut down on all these idiots wanting to be a president.
Oh Yes, wanting to be President is a temporary job and should not be a life time of benefits and
protection as it is costly and the person elected should understand this, they should just be offered more limited benefits and protection as i see most of their risks are when they are in office, reduce the Government spending.
You support the lying, abuser of women and underage children and murderer of the capital police!! What the f—-
Is the matter with you!!!??? You want a dictator!? Go to Russia or Iran. Shame on you you greedy pieces of filth!!!!
Good information did not know all this before
They also get exorbitant speaking fees – both President and First Lady as well as book deals and other financial perks, plus positions on various boards of directors.
I wonder what Biden’s funeral arrangements will be including his children.
Trump is the corrupt man. If you support that lying idiot you should move to Russia where lying is acceptable
Super