Tags: Wu | Sex | Scandal | Pension

Wu Leaves With Benefits Worth $1 Million

Thursday, 28 Jul 2011 11:32 AM

By Newsmax Wires

Rep. David Wu's resignation amid a sex scandal may have cost him his congressional seat, but not the benefits that come with it.

The National Taxpayers Union analyzed his benefits and found he could be eligible for pension and benefits worth more than $1 million in his lifetime, USA Today reports.

Wu, D-Ore., was first elected in 1998.  He resigned this week after an 18-year-old woman complained to his office about an "unwanted sexual encounter."

The National Taxpayers Union, a non-partisan organization, says Wu would be eligible for a pension worth about $851,000 over his lifetime.

He also could have the equivalent of a congressional 401 (k) plan worth $213,855, the group estimates.

Wu, 56, could immediately draw $23,871 on his pension if he opts to receive early payments. If he waits until he's 62, his annual pension would be about 30% higher, NTU estimates.


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