In a statement that is anticipated to be made formal today, Sen. Bingaman is retiring. The Senator has been in public service for over 30 years. This could be the end of his fifth term in Congress. This year alone, 6 Senators have announced that re-election isn’t in the cards for 2012. Source for this article – Senator Jeff Bingaman not running for 2012 re-election by MoneyBlogNewz.
Retirement of Senator Jeff Bingaman
For five terms, Bingaman has served as a New Mexico Democratic senator. He was first elected to his Senate seat in 1982 right after spending four years as Attorney General in New Mexico. The original re-election polls showed that New Mexico had Bingaman effortlessly won which was shown right before the announcement.
At least six retirements in 2012
It can be almost another two years before the 2012 elections occur. Still, announcements are being made by senators. The retirements are the end of 2012 of Jon Kyl, Jim Webb, Kent Conrad, Joe Liberman, Kay Hutchinson and Bingaman have already been announced. Now, campaigns may begin. This is for everyone trying to get into senate. There will probably be lots of debate with the 2012 elections. Democrats hold a 51-47 majority in the U.S. Senate. Also, the Democrats have 2 independents on their side. In order to keep control, Democrats can lose no more than three seats and maintain control of the Senate.
Senator's retirement
Senator Bingaman is 67 years old, and he will be 68 years old at the end of the 2012 session. After age 62, any member of Congress can get a pension. They have to have spent five years in office though. Congress members typically end up with a $46,932 a year pension plan with retirement benefits although it depends on many things. This will go on top of the private retirement savings and social security benefits that could possibly be received by the senator.
Information from
Associated Press
m.apnews.com/ap/db_16026/contentdetail.htm?contentguid=RHDXy38c
Senate.gov
senate.gov/reference/common/faq/retirement_for_members.shtml
Politico
politico.com/news/stories/0211/49823.html
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