Senator Ben Nelson retires, then gets 445 percent pay raise and $950,000 annual salary as an insurance lobbyist
Ex-Senator Ben Nelson (D-NE) was always a friend to the insurance industry while he was in office. He was rewarded for this friendship last week when it was announced that he would become the chief executive of the National Association of Insurance Commissioners (NAIC).
Although Nelson claims he will not act as an official lobbyist, this is only because he is barred from registering as a lobbyist to lobby Congress for two years. Serving as the head of a major special interest organization that does have registered lobbyists will effectively grant him the same role.
In his new job, Nelson will earn $950,000 annually. That is a 445 percent increase over his former job as a U.S. Senator, where he earned $174,000.
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If they enforced bank regulations like they do park rules, we wouldn't be in this mess