18.5K/year... but retire with triple that!

[ReformWNY]

So I think we need to discuss the scam in Cheektowaga Politics where a Town Board member earns 18.5K/year with FULL BENEFITS for... say 20 years... and then retires... but BEFORE he/she retires he does the following:


1. Realizes that a retirement based on 18.5K/year sucks.

2. "Retires" from the town board and gets appointed and then incumbently (sp?) elected to a post, such as the Tax Reciever, making upwards of $65K/year.

3. Work that job for TWO years (the minimum for the retirement scam)

4. Retire from the 65k/year job, and have the ENTIRE RETIREMENT based on 65K/year... even though the politican was part time for a majority of the time worked in the town... and EVEN THOUGH with retirement, full benefits for the retiree and the spouse continue.

5. ELIMINATES the position as he leaves it saying (get this) "It's UNNECESSARY!"

What might that cost? Well, even at a reduced rate, let's round 18K to 15K/year in retirement income.. and round down 65K to 50K in retirement. Then put the retirement age of this person at... say 62 years old.

Give em 20 years to live.
35K/year... x 20 years.
$700,000.00 in EXTRA taxpayers money going out by paying this...
50K/year x 20 years = a cool million bucks.
PLUS the 12K/year in benefits for the full ride = 240K

That's right. 1.25 MILLION DOLLARS for this person to retire.

And it's going on RIGHT NOW folks...

Too bad our crappy news reporters and the Cheektowaga Times would rather report on the Cleveland Hill JV Baseball scores and the Polish Festival than reporting the REAL issues.

Anyone have an opinion on this? Can anything be done?

THe killer is CHEEKTOWAGA STILL ELECTED HIM!

[Albie]

I was of the opinion that if you retired under the state retirement system your retirement was based on your highest 3 years are you saying he can collect on his town job along with his teachers retirement since they both come out of the same retirement system.

[ReformWNY]

Albie:
It's even worse.

He will be collecting a TOWN retirement on 2 years as a tax collector (full time) based on 65K/year.

He will ALSO be collecting his full teacher's pension.

I didnt' even mention that in my posting, thanks for bringing it up.

He will get well over 100K/year in retirement cash.

Nope.. He can double dip. He's in the old school Tiers... he will get all kinds of goodness.

How does that feel?

[Albie]

He will not be paying any state tax on either of those pensions because the state retirement system is exempt from state taxes.Isn't it a wonderfull world living in N.Y. and working a job funded by the taxpayers. His son was just nominated by the DEM. Party to run in Cheektowaga,they just keep passing the gravey on from one generation to the next and the voters keep voting them in.

[WNYresident]

I heard about this issue. THe problem is they all sort of do the scam. The position should of been axed before he even took the position.

[Linda_D]

whoa, nelly!!!

Unless Cheektowaga is running a complete scam here, its employees belong to the NYS Employees Retirement System (ERS). If an employee worked for a school district, he/she might also belong to the Teacher's Retirement System (TRS). It might be possible to collect two pensions (an elected official may collect a pension, I think), but if what you've outline here, ReformWNY, is accurate, then this individual would only qualify for a TRS pension based on 18 years service since he doesn't have enough years with the town to "vest" in the ERS (he has 2 years and you need 5).

Without being vested, I don't believe he can "buy" his TRS years into the ERS system. If he could "buy" his TRS years into the ERS, then albie is correct, it would be his three consecutive highest years that would count, which would give a base of $49,500 (avg 2 years at 65k and 1 at 18.5k). That would be multiplied by a factor of .4 (the number of years in the retirement system (20) x .02). That would give him a pension of $ 19,800 annually.

If he could not use the 2 years in the ERS, then his TRS pension would be something like $18,500 x .02 x 18 or $ 6660 annually.

If this person worked at a $65,000 salary for at least 5 years, he would be vested and get a retirement of around $6,500 annually ($65,000 x .02 x 5). This would be in addition to the his $6660 from the TRS or $ 13,160 annually from both.

With only 20 years in TRS and ERS, this person is a Tier IV member unless he was working in the private sector for a couple of decades after leaving public service and then returning.

If the Town of Cheektowaga has a special "town pension" outside of the ERS for this person, or other persons, you are getting raped by your town officials.

[ReformWNY]

He has been in the town for something like 20+ years... AND he'd been a teacher for over 35 I think.

As a teacher, he will get a fully vested pension from the Teacher's Pension.

As a politician, he will get a fully vested (with 20+ years) pension in the State Retirement System. And yes, it will be based on the 65K he made for 2 years.. not the 18.5K he made for 20+ years.

I will try to find out how long he's been with the town... but he is not Tier 4... Closer to 1 or 2.

Yes. We are getting raped by our system.
Yes. This is a common practice here.
Yes. that's why most of Cheektowaga's budget goes toward retirement.

[ReformWNY]

I called an old friend who has been around a long time, and he said 25 years in the town of cheektowaga... but also we can't forget that he was Mayor of Sloan... ALSO part of the NYS Retirement System.

He's got more than enough years in.. probably close to 30 in that system and at least 35 in the Teacher's system.

Nice.

[ERIEMAN]

Is that the "destroy any and all documents" mayor of sloan, or the guy that sits at the corner of william and harlem picking his toes?

[ReformWNY]

Neither, though both are just as qualified. This is the one whose son is now following in his footsteps. (ahem.)