I just checked and found this:
State and local governments have their own rules, but those running for federal office — including presidential candidates — must abide by strict FEC guidelines when it comes to their extra campaign money.
They can donate an unlimited amount to a charity or political party. They can also, within limits, make contributions directly to other candidates. A campaign committee can give up to $2000 per election to each candidate. If the committee is converted into a political action committee, the limit jumps to $5000 – but to be established as a PAC, the committee would have to be in existence for six months, receive contributions from 50 donors, and make contributions to five recipients.
What candidates can’t do with leftover money is use it for personal expenses. Retiring federal lawmakers used to be able to pocket extra cash and use it for cars, vacations, clothes, pet grooming, whatever — but that changed in 1989 with the passage of the Ethics Reform Act.
http://www.factcheck.org/2008/02/leftover-campaign-funds/
Now, as Colbert explained on his show one evening, you can take Super Pac money and give it all to a foundation ( which has been set up for you personally). Then you can spend that foundation money anyway you please, because it no longer belongs to a Super Pac.
So in essence, a Super Pac can be a money laundering scheme.
I also checked on Palin, since I know she is still running her Sarah Pac. She got over a million bucks last year and ony spent 3% of that money on any candidate.
Here is more info on the issue:
http://www.opensecrets.org/news/2010/03/the-retirement-announcement-la/
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