Lott, who is serving his fourth Senate term, was expected to discuss his plans later Monday.

Lott becomes the sixth Senate Republican this year to announce retirement, possibly posing more difficulties for an embattled GOP that will be trying to retain the presidency and fight further losses to Democrats who regained control of both houses of Congress last November.

The senator, after 34 years of public service in Congress, is not wealthy like many of his colleagues and has talked for some time about leaving so he could earn more money. [Instead of filthy rich, he is only rich]

So, aides said, the senator decided to leave by year’s end to circumvent new lobbying rules — instituted by Congress this year and effective in 2008 — that that would bar members from lobbying their colleagues after two years.
The so-called “revolving door” policy in effect now keeps former members from lobbying their colleagues for one year. The changes were made in the wake of the scandal surrounding former lobbyist Jack Abramoff.