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.
Nelson has also accepted a position with the public affairs firm Agenda, where he will serve as a senior adviser. He has not revealed how much he will earn at that firm.