However, to receive it, she must relinquish any other pensions or annuities. Though the same document does show some First Ladies receiving something. With Obama, Michelle got far more than a mere salary, with endless vacations & expenses & perks. There is no provision in “Former Presidents: Pensions, Office Allowances, and Other Federal Benefits” for the First Lady to receive a payment from the Government. Former Presidents: Pensions, Office Allowances, and Other Federal Benefits Congressional Research Service 2 Service protection.6 In 1994, the law was amended to limit U.S. Secret Service coverage to 10 years for any President who entered office after January 1, 1997.7 President George W. Bush and his wife Laura Bush would have been the first former President and first lady who faced this Luckily, the First Lady position does come with a few perks, as Money pointed out — lifelong pension, free accommodations, free travel around the world, and a personal security detail. Found it! The primary reason is that the First Lady wasn’t elected – her husband was. Presidential pensions were established for the same reason as pension plans for other workers: to provide for a secure retirement. First Lady of the United States (FLOTUS) is the title held by the hostess of the White House, usually the wife of the president of the United States, concurrent with the president's term in office.Although the first lady’s role has never been codified or officially defined, she figures prominently in the political and social life of the nation. Since then, presidential retirement benefits have included a lifetime annual pension, staff and office allowances, travel expenses, Secret Service protection, and more. Presidential retirement benefits were non-existent until the enactment of the Former Presidents Act (FPA) in 1958. She was more than royalty in England, with larger compensation. Neither Nancy Reagan nor Betty Ford received the first lady’s pension because they declined to relinquish other pension benefits. No but she has endless perks. Why doesn’t FLOTUS earn anything?