January 11, 2001. Copyright 2001. Graphic News. All rights reserved.

CLINTON TO RECEIVE RECORD PENSION

LONDON, January 11, Graphic News: PRESIDENT Bill Clinton is set to receive the biggest federal pension in history -- an estimated $7.29 million during his lifetime -- according to a tax policy group that says presidential handouts are far too large.

The National Taxpayers Union, a nonpartisan research group that advocates lower taxes, used an insurance actuarial formula to estimate ClintonÕs lifetime pension payout. It predicts that someone of his age, health and profession should live to the age of 82. Clinton is currently 54 years old.

During his first year out of office, ClintonÕs pension cheque will total $161,200, the tax policy group said.

Vice President Al Gore will also receive a hefty pension -- $5.96 million if he lives to the age of 81, the taxpayersÕ group estimated. During his first year on the pension plan the 52-year-old will receive $94,800.

The president currently earns $200,000 a year but Congress voted last year to double that salary when the next president takes office, so George W. Bush will receive $400,000 a year.

The pension plans will kick in the day Clinton and Gore leave public office -- not when they reach the normal retirement of age of 65.

Even adjusting for inflation, Clinton, Bush and Gore can be expected to surpass the previous record-holder, former President Ford, whose projected pension payout is $4.5 million.
/ENDS
SOURCES: National Taxpayers Union, Associated Press