Former US presidents are receiving numerous retirement benefits, which include a taxable pension. The amount of money is not fixed. Retired receive a pension equal to the pay that the head of an executive department (Executive Level I) would be paid, as of 2015 $203,700 per year. An ex-president begins receiving payments right after the retirement from office.

American former presidents began earning pensions only in 1958. The Congress decided to ordain the Former Presidents Act and provide ex-presidents with benefits they receive nowadays. Before this decision former presidents happened to end their lives in poverty, like, for example, James Monroe. And Thomas Jefferson had to sell his home library to make some money! Fortunately, modern American presidents receive proper protection after leaving their office.

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