With a career in tatters and a pregnant wife, most people would be facing a financial crisis, but Anthony Weiner still has his pension to fall back on — and it’s a pension the rest of America would love.
After just 12 years in Congress, Weiner’s benefits add up to $1.2 million, reports The Wall Street Journal, and he doesn’t have to worry if the Stock Market keeps dropping.
After just 12 years in Congress, Weiner’s benefits add up to $1.2 million, reports The Wall Street Journal, and he doesn’t have to worry if the Stock Market keeps dropping.
While most of us would prefer that cads such a Weiner receive ZERO pensions, this Congressional pension is quite modest by California public employee standards -- indeed less generous than any CA public employee plan I can think of!
ReplyDeleteWith a current salary of $174,000, Weiner's pension for 14 years in office will be only $46,000. That's about 2% times salary times number of years in office. Most CA pensions use 2.5% to 3% of salary.
Moreover, Weiner's pension is based on the average of his highest three salaries. Most CA public employees figure it based on their SINGLE highest year's salary.
In addition, Weiner's pension starts at age 62. Almost all CA public employees can start their full pensions from ages 50 to 60.
My point is not that Weiner's Congressional pension is too small -- my point is that we taxpayers pay millions of government employees pensions that cost too much.