This just in: 5-term Iowa Senator Tom Harkin (D) will retire at the end of the 113th Congress. He also ran for President in 1992; while he won his home state’s caucus that year, he lost the nomination to President Bill Clinton (D). He also was a 6-term Congressman from 1972-1984.

AP:

CUMMING, Iowa (AP) — Iowa Sen. Tom Harkin says he will not seek re-election in 2014.

The 73-year-old Harkin tells The Associated Press in an interview, “It’s just time to step aside,” because by the time he would finish a sixth term, he would be 81.

Harkin said it would also allow a new generation of Democrats to seek higher office.

The announcement comes as a surprise, considering he had $2.7 million in his campaign war chest and was planning a fundraiser next month.

Who will run for both the Dems and the GOP now that Harkin will retire?

I believe this race is (depending on the candidates in both parties) rated Tilt D in an open seat situation.