Former President Joe Biden’s long career in politics allowed him to retire with the largest taxpayer-funded pension of any ex-prez in US history — $417,000, or more than his presidential salary, an expert says.
Biden, 83, was in line to rake in the massive amount from two pension funds in his first year as former president, according to an analysis by National Taxpayer Union Foundation Vice President Demian Brady.
“It’s pretty unusual, historically unusual, to have such a large pension amount,” Brady told The Post.
“I would have to say that it’s the largest,” the taxpayer advocate said when asked to compare Biden’s pension to his predecessors.
The hefty estimated annual sum is double what Biden’s former boss, Barack Obama, has received in retirement pay after leaving the White House and $17,000 more than Biden’s $400,000-per-year presidential salary.
It also reflects Biden’s “unique situation” as a former senator, vice president and president, a career path that has allowed him to take advantage of a “loophole” letting him tap into multiple taxpayer-backed retirement funds, Brady said.
Biden, who once described himself as “one of the poorest members” of Congress, is able to collect the lucrative payouts by double-dipping in benefits established under the Former Presidents Act of 1958 as well the Civil Service Retirement System for ex-senators.
Annual pay in the CSRS pension plan is determined by a formula that takes into account Biden’s 44 years in the Senate and as vice president, as well as his three highest years of salary during that span.
“Biden’s starting pension could be as much as $166,374, including an $18,186 set aside in the program for the spousal portion of benefit,” according to Brady, who noted his estimate assumes Biden sought to maximize the size of his Senate pension.
The former prez would have raked in more than $254,000 in annual benefits from CSRS if not for a cap limiting his annual payouts to 80% of his highest salary, which was $230,700 a year as vice president and president of the Senate.
Biden, who was elected to the upper chamber in 1972, entered office before the Senate retirement plan was tweaked to make it a bit less generous for newer members.
On top of the check from his Senate and vice presidential service, Biden also receives a quarter of a million dollars annually from his presidential pension.
Under the 1958 law, Biden’s presidential pension must be equivalent to the salary of a Cabinet secretary, which is currently $250,600.
The law was enacted amid public concern over former President Harry Truman’s purported financial struggles after leaving office, although several historians and experts now believe Truman was actually a multi-millionaire after his presidency and not on the verge of becoming destitute.
The FPA also established a number of additional taxpayer-funded perks for outgoing presidents, including money for staff, equipment and office space.
For fiscal year 2026, the General Services Administration budgeted more than $1.5 million for Biden – $727,000 alone for office space – more than any other former president.
“There’s no cap on the rent for that,” Brady said. “So it could be in a high-density area with high rent, and there is no limit on the amount of square footage that’s being rented and funded by taxpayers.
“It’s also provided for life.”
A rep for Biden did not respond to The Post’s request for comment.
Brady questioned whether younger former presidents such as Obama should be able to bill the government for life for office space often used to write memoirs and secure lucrative speaking engagements.
He also argued that lawmakers should take action to prevent future former presidents from making the kind of taxpayer-funded windfall Biden is reaping in retirement.
“Biden is making more in retirement than the current president gets,” he said. “It’s a very unique situation, but even though it is unique, it is one that’s ripe for reform going forward.
“Congress ought to look at that to prevent such an extravagant pension amount in the future.”
Last year, Sen. Joni Ernst (R-Iowa) introduced the Presidential Allowance Modernization Act, which aims to limit presidential pensions to $200,000 and would cut perks such as office space, staff and travel expenses.
A previous version of the same legislation was passed by Congress in 2016 but vetoed by Obama three months before he left office and as he stood to benefit from the perks the bill aimed to slash.
Concern over taxpayer-funded pensions extends past former pols such as Biden.
Under federal law, every member of Congress can qualify for an annual pension benefit after completing five full years of service. These benefits cost taxpayers some $38 million per year to pay out.
Rep. Marjorie Taylor Greene (R-Ga.), who began serving Jan. 3, 2021, raised eyebrows when she announced her last day as a congresswoman would be Jan. 5 — giving her just enough time to meet the eligibility threshold and qualify for an $8,717 per year pension.
Greene’s pension benefit is low when compared to the estimated $107,860 per year payout that longtime Rep. Nancy Pelosi (D-Calif.) will receive when she leaves Congress in 2027 — but over the course of her lifetime, Greene still stands to make more than $265,000 from the taxpayer-funded perk.
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