Washington » Utah Rep. Chris Cannon's tenure in Congress is coming to a close, but he won't leave Washington empty-handed.

For his 12-years in office, Cannon will receive a government pension worth about $30,000 each year for the rest of his life, according to an estimate by the National Taxpayers Union, a non-partisan anti-spending group.

Cannon lost his re-election bid to Rep.-elect Jason Chaffetz in the Republican primary in June. He will leave office in January, hoping to become an adviser to up-and-coming tech companies. He won't be able to claim his full congressional pension until he turns 62 -- four years from now. His pension will also receive annual cost of living increases. Cannon could decide to access his pension money early, though he would have to take a 20 percent pay cut.

But Cannon can afford to wait. His most recent financial disclosure shows that his net worth is between $1.9 million and $7.3 million. Cannon had no comment on his pension other than to say he hadn't reviewed his retirement information recently.

Congressional pensions are considered private, so only rough estimates are available based in part on the number of years in office, current pay and life expectancy. The elected official must serve at least five years to receive a pension.

The program is similar to that received by other federal employees, though the benefits accrue at a higher rate for members of Congress, according to the Congressional Research Service.

The National Taxpayers Union estimates that the perk is two to three times more generous than a similarly paid executive would have gotten in the private sector. The union contends that congressional pensions are an unnecessarily rich benefit that should be cut to become more in line with private employee programs.

NTU spokesman Pete Sepp said the healthy pensions allow lawmakers "to insulate themselves from the economic consequences of their decisions" giving them "a little less incentive to make good economic policy."

Former Utah Sen. Jake Garn disputes that point. He receives about $65,000 each year from his government pension. He served three terms in the Senate, ending in 1992. He said the pension has no bearing on decisions made by elected officials and it accrues faster than other government employees because politicians don't have much job security.

"People can judge you every election," he said. "People in the private sector don't normally have that level of uncertainty."

The pension is but one of a number of perks for retired members of Congress. They get to keep their high-quality health-care benefits and have access to an additional retirement account that functions like a 401(k).

Cannon could be eligible for a $7,000 boost to his pension because he also worked for three years in the Interior Department in the 1980s as a solicitor. Chances are he was cashed out of the retirement program when he left, but he could buy back the years, Sepp said.

The NTU estimates that former Utah GOP Rep. Jim Hansen gets about $89,000 a year for his 22 years in Congress. And if Sen. Orrin Hatch retired, he would receive more than $110,000 a year for his 32 years in service.

mcanham@sltrib.com