amount of money paid to president once he leaves office
The amount provided is determined by Congress. Staff and Office Allowances. Six months after a president leaves office, he or she gets funds for an office staff. During the first 30 months after the leaving office, the former president gets a maximum of $150,000 per year for this purpose. Each former president receives the same salary as a current member of the Presidential Cabinet. For 2013, the amount was $199,700 per year. This number does not take into account the extras the former leader is entitled to including a $96,000 stipend for office staff payroll and free postage for life. If the President was paid hourly, he would earn $223.84 per hour for a forty hour work week. And although the First Lady works almost as hard as (or even harder than) the President, she only earns $10,000 a year. In addition to his annual salary, the President has many perks for being in office. The Presidents salary might only be 46% of his total earnings, but it is still a healthy $400,000 per year. If the President was paid hourly, he would earn $223.84 per hour for a forty hour work week. And although the First Lady works almost as hard as (or even harder than) the President, she only earns $10,000 a year. According to the FPA, upon leaving office, former Presidents are to receive a pension that is equal to the pay for the head of an executive department (Executive Level I), which was $201,700 in calendar year 2014. Executive Level I pay increased to $203,700 in calendar year 2015. For 2013, the amount was $199,700 per year. This number does not take into account the extras the former leader is entitled to including a $96,000 stipend for office staff payroll and free postage for life. The former president is granted a host of benefits that often add up to more than the pension payment itself. In total the amount spent on a former president can reach into the millions of dollars per year. For example, in 2012 former President George W. Bush cost taxpayers $1.2 million, while former President Bill Clinton received nearly $1 million in benefits and pay. Under the Former Presidents Act, each former president is paid a lifetime, taxable pension that is equal to the annual rate of basic pay for the head of an executive federal department -- $201,700 in 2015 -- the same annual salary paid to secretaries of the Cabinet agencies. The Constitution prohibits pay raises for sitting presidents. This presidential pay raise was the first since 1969, when the president's salary was raised from $100,000 to $200,000. Adjusted for inflation, $200,000 in 1969 would be worth $930,232 today. For 2013, the amount was $199,700 per year. This number does not take into account the extras the former leader is entitled to including a $96,000 stipend for office staff payroll and free postage for life.
$203,700