The Houston Chronicle reports that when 59-year-old Rep. Tom DeLay, R-Texas, leaves his job, he will immediately become eligible for a congressional pension of nearly $67,000 a year. Over the next 20 years, DeLay could collect a cool $1.3 million, plus health benefits. And his pension is conviction-proof, should he not escape a guilty verdict in the Texas campaign-finance case or otherwise. Such retirement income isn’t as nice as DeLay’s $180,100 majority leader salary was, but it would be the envy of many of the 4 in 10 U.S. workers 55 and older who, according to a new study, have retirement savings of less than $25,000.
Posted by Rhonda Holman
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