http://www.oregonlive.com/politics/index.ssf/2011/07/staff_government_prepare_for_d.htmlQuoting from above link:
"Wu will lose his salary as soon as he resigns, but he retains his pension.
If he collects on his pension after retiring this month, he could be paid nearly twice as much as the average Social Security payment, according to an analysis by the National Taxpayers Union and Social Security statistics. The taxpayers advocacy group calculated that if Wu also chose to join the federal Thrift Savings Plan -- the congressional equivalent of a 401k -- his maximum pension payout over the course of his retirement could increase from $851,000 to $1,064,855.
Individual congressional pension amounts have not been public information since a 1989 Supreme Court ruling so the group calculated the total possible payout based on Wu's length of service, age, life expectancy, and a cost of living adjustment of 3 percent per year. The analysis also assumed he made the maximum contributions, received the maximum 5 percent salary match and invested the contributions to the greatest extent possible.
If he leaves office by the end of the month, he could receive an immediate pension payment of $23,871 a year, If he waits six years to collect at the age of 62, the annual amount would be 30 percent higher, or $31,032.
A report from the Congressional Research Service lists average congressional pensions: $69,012 for those who began federal service prior to 1984 and $40,140 for those since then. By comparison, the average annual payment from Social Security for 2011 is $14,124.
Wu could earn more if he includes his year as a clerk with the federal courts.
Members of Congress pay 0.8 to 1.8 percent of their salaries toward their benefits plan and another 6.2 percent to Social Security. Congress, as an employer, contributes an additional 17.9 percent of payroll to the plans of its members under the newer of two pension programs. At Wu's annual salary of $174,000, that means federal taxpayers contribute $31,146.
Wu also can use about $300,000 in his 2012 campaign money. He can donate the money to other political candidates or causes or use it to wind down his campaign, paying bills and salaries. He is barred by law from spending any of it for personal use."