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Jesse Jackson Jr. could be eligible for $45,000 annual pension

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(MCT) — WASHINGTON — Jesse Jackson Jr., who resigned from Congress last week and acknowledged he was the subject of a federal investigation, could be eligible for an annual pension estimated at $45,000, but that benefit would be lost if he were convicted of one of several public corruption felonies.

Jackson, 47, a Chicago Democrat who served 17 years in Congress, remained out of sight Monday, five days after sending a resignation letter to House Speaker John Boehner, R-Ohio. A federal criminal investigation into Jackson’s alleged misuse of campaign dollars remains active, a source said Monday.

Jackson has been out of the public eye since June, when he began a leave for what aides later disclosed is bipolar disorder. He won re-election on Nov. 6 while at the Mayo Clinic in Minnesota, where an official said Monday he is no longer a patient.

Smith & Company, a crisis-management firm that is representing Jackson, declined to comment on his whereabouts. The firm, with offices in Washington and Los Angeles, in the past has represented clients including Monica Lewinsky, Michael Vick and former Sen. Larry Craig, R-Idaho.

Federal officials do not disclose how much a retiree receives as a pension. But at the National Taxpayers Union, executive vice president Pete Sepp estimated that Jackson could collect about $45,000 a year when he reaches age 62. If Jackson chose to draw the pension beginning at age 56 — just over eight years from now — the sum would be reduced by 30 percent, leaving about $31,500 a year.

Jackson has not been charged with a crime. He said in his resignation letter that he was aware of the ongoing federal investigation into his activities and was doing his best to cooperate with investigators and accept responsibility for his “mistakes.”

Earlier this year, Congress expanded the number of felony public-corruption offenses that would trigger the loss of a federal pension. They added several crimes, including tax evasion, money laundering and offenses relating to soliciting political contributions.

Lawmakers also broadened the penalty’s reach by dictating that it would apply to former members of Congress who became president or vice president or served in state or local government. That provision was aimed at high-profile figures such as now-imprisoned Rod Blagojevich, a former congressman convicted for offenses that occurred while he was Illinois governor.

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