Vice President Dick Cheney will weather the bear market with a pension worth an estimated $132,451 per year. His pension, based on service as a Representative, Vice President, and other executive branch posts, will also be regularly adjusted for the cost of living.
Cheney, currently age 67, could accumulate a lifetime retirement benefit of $3.24 million if he reaches his predicted life expectancy of 84.4 years, according to calculations by the National Taxpayers Union (NTU). That figure does not include any possible savings Cheney accumulated in the tax-deferred federal Thrift Savings Plan, which is similar to a private-sector 401(k) plan.
Former Vice President Al Gore’s initial pension in 2001 was approximately $94,810, NTU estimates. Cost of living adjustments bring Gore’s 2009 benefit up to $120,378.