Virtual Ministry Archive

When Harry S. Truman left office in 1953, former presidents did not receive government pensions. Unlike many modern political figures, Truman returned to private life with limited personal wealth. He rejected offers from corporations and organizations that might have earned him substantial income because he felt it would be inappropriate to profit from the presidency. As a result, much of his income came from a modest military pension. His financial situation drew national attention and helped spark a debate about how former presidents should be supported after leaving office. In 1958, Congress passed the Former Presidents Act, establishing pensions and other benefits for future former presidents