Former Presidents Act

Before 1958, the U.S. federal government provided no pension or other retirement benefits to former United States presidents. Andrew Carnegie offered to endow a US$25,000 (equal to $ today) annual pension for former chief executives in 1912, but congressmen questioned the propriety of such a private pension. That prompted legislation to provide benefits to former presidents. Although legislation was first introduced later that year to provide any such benefits, that legislation was not enacted. All living former presidents and their spouses after Dwight D. Eisenhower are now entitled to receive lifetime Secret Service protection. Their children are entitled to protection "until they become 16 years of age". ==Benefits==

By law, former presidents are entitled to a pension, staff, office expenses, medical care, health insurance, and Secret Service protection. Pension The secretary of the Treasury pays a taxable pension to the president. Former presidents receive a pension equal to the salary of a Cabinet secretary (Executive Level I); , it was $219,200 per year and since January 2022, $226,300. The pension begins immediately after a president's departure from office. A former president's spouse may also be paid a lifetime annual pension of $20,000 if they relinquish any other statutory pension. Medical insurance Former presidents are entitled to medical treatment in military hospitals; they pay for this at rates set by the Office of Management and Budget. Presidents may buy health insurance under the Federal Employees Health Benefits Program. Under this statute, Bill Clinton would still be entitled to lifetime protection, and all subsequent presidents would have been entitled to ten years of protection. On January 10, 2013, President Barack Obama signed the Former Presidents Protection Act of 2012, reinstating lifetime Secret Service protection for his predecessor George W. Bush, himself, and all subsequent presidents. Richard Nixon relinquished his Secret Service protection in 1985, the only president to do so. ==See also==