Public Service: The Golden Rocking Chair

Thanks to fat pensions, many retired officials make more than those still on the job

Though many Americans are worried that their poorly invested pension funds might go bust and leave them penniless in retirement, one class of employees has no such concerns: top federal officials. It's not just that their benefits are guaranteed by the U.S. Treasury and thus protected from the economic shocks that have wrecked some company plans. Thanks to a generous cost of living index scheme that would be extremely rare in private industry -- a plan that the U.S. Congress designed mainly for its own benefit -- many former federal officeholders actually make more for not working than they ever did...

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