Chances for a Bigger Pension

The man nominated to be the new CIA director, General Michael Hayden, is not yet retiring from the military, and that decision may earn him a bigger pension. In order to receive the $127,766.70 per year that he could earn as a retired four-star general, he would need to hold that position for three years. He’s only held the 4-star ranking since April of last year. If he retired now, he’d get the 3-star pension of $112,730.40 per year. That’s a difference of over $15,000.

Secretary of Defense Donald Rumsfeld could give Hayden a waiver, however, allowing him to be retired at the 4-star level.

Of course, Gen. Hayden probably won’t have to rely on the military alone to pay the bills. Former CIA directors have found plenty of other ways to cash in. Bidding for former director George Tenet’s book about his CIA years reportedly topped $4 million. Tenet, along with other former directors James Woolsey and Robert Gates, have also gone on speaking tours where they can earn up to $25,000 per speech.