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Disgraced Rep. Wu could collect nearly $900K in pension benefits

  1. Stacie L profile image88
    Stacie Lposted 5 years ago

    By Billy House
    National Journal
    Scandal-plagued Rep. David Wu, D-Ore., will be leaving the House eligible to draw a lucrative congressional pension totaling almost $900,000.
    First elected to Congress in 1998, Wu's benefits could add up over the rest of his life to an estimated $851,000 based solely on his congressional service or $891,000 if another year of possible qualifying service as a clerk with the federal judiciary is included.
    Already, the 56-year-old lawmaker qualifies for an immediate annual pension of about $23,871 if he makes good on announced plans to resign sometime shortly, according to calculations provided to National Journal by the Alexandria, Va.-based National Taxpayers Union. (He had not done so as of Wednesday afternoon). That yearly amount would go as high as $24,998, if Wu's year of service as a judge's clerk is added.

    http://news.yahoo.com/blogs/exclusive/d … 26404.html
    politicians are supposed to be civil servants..not royalty...why on earth are they making so much money!

  2. Peter Owen profile image59
    Peter Owenposted 5 years ago

    because we allow them to.

  3. Uninvited Writer profile image82
    Uninvited Writerposted 5 years ago

    Royalty can live on $25,000 a year?

  4. Bubblegum Senpai profile image85
    Bubblegum Senpaiposted 5 years ago

    A severance is a small price to pay if it means getting someone competent to replace them.

  5. Stacie L profile image88
    Stacie Lposted 5 years ago

    the rest of that paragraph "If Wu decides instead to hold off until age 62 to collect the full amount of his pension, those annual payouts would be 30 percent higher, said Peter Sepp, the Taxpayers Union's executive vice president."
    read the entire article and it will open your eyes and make you mad.
    maybe we should join them because we certainly can't beat them!