Word: outearned
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Dates: during 1990-1999
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...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 on the job. Some even outearn incumbents in the offices they once held. "Congressional pensions are typically two to three times more generous than those in the private sector," says David Keating, who heads a watchdog group called the National Taxpayers Union. Much the same could be said of presidential pensions. This year, for instance, former...
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