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Retiring congressmen, senators: What color is their parachute?
Free health care for life? Nope. But most of the congressmen and senators from Iowa and Nebraska stepping down this election cycle will walk away with pretty solid pensions — some greater than others, based upon their years of service and when they entered Congress. U.S. Sen. Tom Harkin of Iowa leads the list. After 40 years in Congress, the Democrat will retire at age 75 with a pension estimated at $125,000 a year. On the other hand, Sen. Mike Johanns of Nebraska is in line for a federal pension of $21,000 annually, based on six years in the Senate and 2½ years as secretary of agriculture….Read More
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