While Rep. Anthony Weiner may no longer have the benefit of Congress’ generous health care plan once he resigns, he will still be able to collect his pension and other benefits that could total more than $1 million during his lifetime.
According to an analysis of his available benefits by the National Taxpayers Union, the New York Democrat’s pension and a savings plan lawmakers have access to similar to a 401(k) could be worth $1.12 million to $1.28 million.
At 46, Weiner will not be eligible for his pension for another decade, at which point he could begin drawing a reduced rate of $32,357 a year, according to the NTU. If he waits until age 62 to begin drawing his pension, he will receive his full benefits, or $46,224, according to the NTU’s calculations.
Additionally, if Weiner aggressively invested in the Thrift Savings Plan, his balance would be roughly $216,000, the organization said.
Weiner announced Thursday that he would resign from the House in the wake of a sexting scandal that had engulfed the liberal firebrand for weeks and distracted his party.
As of Thursday evening, however, Weiner had yet to actually resign and would technically remain a Member of Congress until next week at the earliest.
Terri Henderson, 6, center, whose mother is El Salvador, attends a rally with members of Congress at Union Station's Columbus Circle to announce the Restore Opportunity, Strengthen, and Improve the Economy (ROSIE) Act on July 29, 2014. The legislation provides incentives for government contractors to pay a living wage and other benefits that would help low-income workers.