Ex-Lawmaker Gets $248,000 ‘Hidden Pension’

Former Rep. Fernand J. St Germain (D-R.I.), who lost his bid for reelection last November amid allegations of financial misconduct, left Congress with $248,367 in unspent campaign funds--money that he now may convert legally to his personal use.

St Germain--former chairman of the House Banking, Finance and Urban Affairs Committee--is one of 15 defeated or retiring House members who walked away from the 100th Congress with unspent campaign funds ranging in size from $3,900 to more than $450,000, according to a survey by Public Citizen, the Ralph Nader organization. Five others who died during the last Congress left substantial sums to their heirs.

Under the law, members of Congress elected before Jan. 8, 1980--or their heirs--are permitted to keep whatever excess campaign funds they have amassed whenever they leave Congress. Critics view the money as a “hidden pension” for senior members, who also will enjoy generous government retirement benefits.

$67 Million in Funds

According to the Public Citizen survey, House members currently are hoarding more than $67 million in excess campaign contributions--more than $39 million of it belonging to members who were elected before 1980. Three House members, two of whom were elected before 1980, have amassed campaign war chests in excess of $1 million.

The survey of campaign records by Public Citizen comes at a time when members of Congress are weighing a recommendation from President Reagan that would increase their annual salaries from $89,500 to $135,000--a 50% increase that also would be enjoyed by top Administration officials and federal judges. Nader has previously spoken out against the pay increase.