Paul Ryan could get a pension of $84,930here's how that compares to most people
House Speaker Paul Ryan announced that he will retire at the end of his term in January, giving up his prominent position and salary of $223,500 a year. But that doesn't mean the 48-year-old will have to start pinching pennies.
When he turns 50, he's likely entitled to a pension plan that Vanity Fair describes as "a golden parachute." If he is enrolled in the program offered to Congress members, the Federal Employees Retirement System (FERS), he could receive $84,930 a year, assuming he sticks it out through January.
In 2005, Ryan co-sponsored a bill to privatize Social Security, around the time that George W. Bush announced that Social Security was "headed for bankruptcy," though the bill went nowhere. His legislation, "Road Map for America's Future," a few years later also contained privatization proposals.
Social Security allotments only come out to an average of under $16,000 a year. A report from the Center on Budget and Policy Priorities found that most elderly people in America rely on Social Security for the majority of their income and two out of five would be broke without it.
https://www.msn.com/en-us/money/retirement/paul-ryan-could-get-a-pension-of-dollar84930heres-how-that-compares-to-most-people/ar-AAvX5WN?ocid=spartanntp