HOW DO PRESIDENTS RETIRE?
A Peek Into the Lives of Presidents After Office
After a U.S. president has completed their four- or eight-year term, they tend to recede into the background of society. Some escape the public eye and do not return to a public office, although others may remain activists and make public comments now and then. But what’s their pension? What happens to their staff and how does presidential retirement actually work? The Former Presidents Act, which grants former presidents retirement benefits, is relatively new. It was only put into law in 1958. Former presidents are given a taxable pension by the Secretary of the Treasury. By law, they receive a pension equal to the pay of the head of the executive department, which, as of 2020, is $219,200 per year. The pension begins immediately after the president departs from office. They’re also entitled to lifetime Secret Service protection for themselves, spouses, and children under 16.
Just because a president’s term is over doesn’t mean their staff is left hanging, too. As the president is leaving office, transition funding for the expenses is available for seven months. It’ll cover all office space, staff compensation, communication services, printing, and postage associated with transitioning. Staff are paid up to an annualized total of $150,000 for the first 30 months, then $96,000 thereafter.
Here are some fun facts about retired presidents:
the Supreme Court, President William Taft, 12 years after he left office. He preferred it over the executive branch! “I don’t remember that I was ever president,” Taft once said. Retiring as a president seems like a pretty good deal, but we can’t blame some former presidents for getting restless! From everyone at DuPont Wealth Solutions, we hope you have a great November.
• The only U.S. president to have ever relinquished his Secret Service protection is Richard Nixon in 1985. • Presidents can’t accept personal gifts during office; their personal papers and mementos belong to the American people. So, President Franklin Roosevelt established the first presidential library in 1941 to showcase his archive. • One president became chief justice of
SUDOKU
LUXURIOUS VEGAN CHOCOLATE MOUSSE
Inspired by WellPlated.com
INGREDIENTS
4 oz vegan dark chocolate, chopped 2 large avocados, pitted and skinned
1 tsp vanilla extract
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1–3 tsp maple syrup, to taste
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Fresh berries, for garnish
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3 tbsp cocoa powder
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1/4 cup almond milk
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DIRECTIONS
1. In a microwave-safe bowl, melt the dark chocolate. Heat in 15-second intervals, then stir and repeat until melted. Set aside to cool. 2. In a food processor or blender, combine the cooled chocolate and other ingredients. Blend until smooth and creamy, adding additional sweetener as desired.
3. Scoop into glasses and refrigerate at least 2 hours. Top with berries and serve!
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