Latest New Jersey Governor Cashing In

Currently we have

  • Brendan Byrne (January 15, 1974 to January 19, 1982) – $35,827
  • Thomas Kean (January 19, 1982 to January 16, 1990 – $22,846
  • James Florio (January 16, 1990 to January 18, 1994) – $54,249
  • Christine Todd Whitman (January 18, 1994 to January 31, 2001) – $19,320
  • Donald DiFrancesco (January 31, 2001 to January 8, 2002) – $65,421

And beginning this month we have:

  • Jim McGreevey (January 15, 2002 to November 15, 2004) – $66,837

Though his datauniverse page shows him as working for Jersey City at a salary of $107,547, this nj.com story claims that:

McGreevey, 58, who runs Jersey City’s prisoner re-entry program as executive director of the Jersey City Employment & Training Program, will receive a $66,837 pension after nearly 27 years in the state pension system, according to a state Treasury official. His first check was dated Sept. 11.

The story also gets into how McGreevey used Hudson County to boost his pension and get lifetime health benefits in exchange for what county officials thought to be worthwhile service:

The decision to allow McGreevey to work for the county for four months and then retire with lifetime benefits has the county’s payroll officials “freaking out,” according to a source with knowledge of the situation, but county spokesman James Kennelly said the retirement package is worth it for Hudson County.

McGreevey brought “unique experience” and “intense commitment” to developing a countywide prisoner re-entry center, also known as a community resource center (CRC) and formerly slated for the Sacred Heart Church priory.

………….

Housing the CRC at the Sacred Heart prior was halted after the community objected to its location. McGreevey has said he has not found a new location yet.

 

 

19 responses to this post.

  1. Posted by dentss dunnigan on September 16, 2015 at 6:56 pm

    So we now have a corrupt governor ,who left the taxpayers open to a terror attack by his illegally hired lover collecting a pension …….gives reason for this whole thing to come crashing down .

    Reply

    • Posted by skip3house on September 16, 2015 at 7:04 pm

      Just how were elected people added to the various pensions/benefits they control?

      Reply

      • Posted by Anonymous on September 17, 2015 at 4:08 pm

        Once elected they receive salaries, therefore they become employees. All employees are eligible for employee benefits which includes health and pension.

        Reply

        • Posted by Tough Love on September 17, 2015 at 4:34 pm

          In the Private Sector employees ONLY receive a year of service credit if the work 1,000 paid/documented hours in the year. That’s roughly a full half-year of employment, not the few paid hours/month that many of NJ’s state and local Elected Officials work.

          In the Public Sector, they get 1 year of service credit by making a VERY modest amount (expressed in $$$, not hours worked). I believe that is now $7,500, quite easy for elected officials to meet with WAY LESS than1000 hours of service.

          The real taxpayer-screwing is when say a town Councilman get (as described above) say 22 years of service as a Councilman, and then (using their Public Sector connections) gets a full-time high-paying job for just 3 years. THAT will give them a NJ pension identical to that of a full-time 25 year worker with the same 3-yr final average salary.

          The ability to do this should end, and revising the Public Sector criteria to earn 1 year of service credit to the 1,000 hrs/yr standard used in the Private Sector is a good way to do so ….. and it should apply to the future service of all CURRENT (not just new) elected officials (as well as all other NJ workers).

          Reply

    • Posted by Anonymous on September 17, 2015 at 4:12 pm

      If you go to a psychiatrist there are drugs specifically for those who are hallucinating. Really, I don’t think that Israeli was connected to the 911 terrorist except in your mind.

      Reply

  2. Again…….and they wonder why the pension system is about to go belly up and the state is basically insolvent
    We pay them once to work, twice to retire and then a third time to work another public job. Oh yeah we have to still pay yet. 4th time for survivor benefits and yet they wonder why the system is falling apart around them

    Reply

    • Posted by Tough Love on September 17, 2015 at 7:36 pm

      They don’t wonder …. they don’t give a crap as long as they get “theirs”.

      Reply

    • Posted by S Moderation Douglas on September 17, 2015 at 10:47 pm

      And yet, according to none other than The Heritage Foundation, some of them are STILL underpaid.

      They don’t wonder why the system is falling apart around them; they know. The Piper wasn’t paid.

      Reply

      • Posted by Tough Love on September 17, 2015 at 11:24 pm

        Quoting …. “And yet, according to none other than The Heritage Foundation, some of them are STILL underpaid. ”

        Yes some are, but when you take ALL Public Sector workers together (combining BOTH the underpaid and overpaid) they are in BOTH CA and NJ (per the AEI study) 23%-of-pay OVERCOMPENSATED.

        So lets get moving ….. increase the underpaid, but decrease the overpaid,with the latter reduced by far more so that net change is a 23%-of-pay average reduction for ALL CA and NJ Public Sector workers.

        Reply

      • Well the Piper will surely be paid now, as the system inevitably has no where to go but belly up! Its not about who is paid more or who is paid less or who is too blame or who is responsible, there just isn’t anymore money. If the generous pension contributions could be made, they most surely would have been but there is no sustainable or mathematical way to pay so the Piper will most assuredly get his due.

        Reply

  3. Someone should ask Sweeney how the ironworkers pension fund does so well and if he knows the answer, which I doubt, then why doesn’t he advocate for the same funding formula for public pensions.

    Reply

    • Posted by Tough Love on September 18, 2015 at 12:04 am

      Answer: Because the Corporate Employers of Private Sector ironworkers who negotiate the benefits granted their workers are spending THEIR MONEY and aren’t going to spend more than absolutely necessary …… unlike in PUBLIC Sector negotiations where our elected officials are more than happy to grant grossly excessive (and hence VERY costly) pensions & benefits because (a) they have a 3-rd party sucker to whom they can hand the bill, the Taxpayers, and (b) in return for granting such rich pensions & benefits, the flow of Public Sector Union campaign contributions and election support will continue uninterrupted.

      Reply

      • I was being rhetorical with my questions to Sweeney …but I agree with you 100%

        Reply

      • And lets not forget that those union ironworkers and others are being paid way way more because NJ is not a right to work state. Another reason taxes are outrageous.

        Reply

        • Posted by Tough Love on September 20, 2015 at 4:20 pm

          Yes, the cost of “Union-labor” on Gov’t projects does indeed wind up being paid for by tax dollars.

          The WORST example of that is in Local school construction and repair. If “qualified” labor is available and ready & willing to work for less than “union-wages”, why should the Taxpayers be forced to pay MORE than is necessary?

          Answer …. because by supporting “labor” our self-interested elected officials garner VOTES for their next election.

          Reply

  4. The reason is, which Sweeney probably hasn’t a clue, is that the union worker (Ironworker or whatever Union worker) gets fringe benefits for hours worked, not hours paid is the first step.

    The second step is that the employer must pay the fringe benefits now, not in the future. NOW. Those fringe benefit are put into the plan assets, whether it be pension, annuity, welfare, etc. Those funds start to earn money as long as the Plan has a good investment adviser, which the ironworkers always has had. Beating the market, good investments, etc.

    Third step: Why can’t NJ pensions do as well as an ERISA ironworker pension fund?

    ANSWER: Because NJ pension funds are outside of ERISA.

    Who would want that? Public taxpayer funded pension funds with virtually no oversight and public employees who think taxpayers are going to fund their self-imposed form of its own welfare system.

    Reply

  5. Posted by Anonymous on September 18, 2015 at 8:10 am

    http://finance.yahoo.com/news/looks-banks-might-rigged-another-151523040.html
    Fair and Equal?????? As great a country we are so much inequality remains, an entire overhaul is necessary to really be fair and equal!!!!!!

    Reply

    • Posted by Tough Love on September 18, 2015 at 12:49 pm

      No argument their, but are you trying to JUSTIFY the PUBLIC Sector’s grossly excessive pensions & benefits because there is inequality elsewhere?

      I’m sure you would be arguing the opposite position if YOU were responsibly for paying for a comparable worker’s far greater pensions & benefits.

      Reply

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