Findings from TUA’s pension project on New York State are featured in this piece from ABC News 10. Click on the image below to watch the video.
ALBANY, N.Y. – A press conference was held Tuesday to discuss the results of a new pension study. The study exposes the top pensions for retired government employees of Albany County, New York State government retirees, and statewide government teachers.
The top 100 state employee pensions each exceed $4.1 million, while all 100 of the top teachers exceed $5.5 million. One former SUNY employee’s pension is $11.8 million.
At the conference, Christina Tobin, Vice President for Taxpayers United of America (TUA), discussed the letters she delivered to Gov. Andrew Cuomo and members of the New York Legislature. Tobin wants them to expand the pension reforms passed last week, which don’t apply to present employees.
Findings from TUA’s pension project on New York State are featured in this article at Capitol Confidential.
We’ve had lists for some time now of state and local public employee salaries and pensions, starting first with the Empire Center and then followed by newspapers including our own.
The phenomenon has spread over the past few years, thanks to digitization of payroll data, the growing ease of putting documents on the web, and a growing awareness of the cost of government.
The latest twist comes from the Illinois-based Taxpayers United of America which is looking to expand membership to other high-tax states like New York and Pennsylvania.
The group’s vice-president Christina Tobin and outreach director, Rae Ann McNeilly, came through Albany this morning and they were equipped with their version of Top 100 government pensions list. Rather than listing individuals with fat pensions, they use actuarial predictions to attach an overall cost per person.
Philip W. Wood, SUNY’s former vice chancellor for capitol facilities, for instance, gets a $186,295 pension, and put in actuarial terms his estimated payout is $6.9 million — based on a model that assumes retirement at age 55 and a lifespan to age 85.
A brief look at the costliest retirements suggest that K-12 public schools, SUNY, the health care and legal fields pay the most.
In the school system, the highest cost comes from former Commack Superintendent James Hunderfund, whose actuarial cost is a eye-popping $11.8 million.
