Cuomo’s Pension

Does anyone know whether Governor Andrew Cuomo is at risk of forfeiting his New York State pension?

The question was posed on benefitslink and here is how the lead author of Governmental Plans Answer Book responded:

Probably not.  There is a forfeiture provision relating to the New York State and Local Retirement Systems.  It relates to members convicted of a felony related to their public service.  However, it applies only to those who joined the New York State and Local Retirement Systems after November 13, 2011. Cuomo would have been a member long before that.

Andrew Cuomo was born on December 6, 1957, became governor of New York on January 1, 2011, and is the highest paid governor in American history making $225,000 annually. Putting all that together with what the NYSLRS website has for Tier 5 members, here is my estimate of what Andres Cuomo’s annual pension ‘earned’ during his time as governor would be assuming termination of employment as of September, 2021.

  • Final Average Salary (highest consecutive 36 months): $225,000
  • Years of Service: 10.75
  • Benefit (1.66% of average salary times years of service): $40,151

2 responses to this post.

  1. Posted by Rex the Wonder Dog!🐶🐶🐶🐾🐾🐾 on August 9, 2021 at 10:57 pm

    The pay freeze hasn’t stopped lawmakers from legal double dipping.

    At least 21 state lawmakers were elected, retired, and then got re-elected, utilizing a double-dipping loophole to collect a pension while collecting a state salary.

    Assembly members Peter Abbate Jr. of Brooklyn and Deborah Glick of Manhattan, both Democrats, filed for their pensions as they got seated for another term in the legislature, collecting an estimated $57,000 pension each on top of their $110,000 legislative salaries.
    It is painful to see Gov employees making so much $$$, getting raises virtually every year, while the private sector has lost so many of the middle class jobs, and there is almost no middle class private sector left …

    Reply

  2. Posted by Rex the Wonder Dog!🐶🐶🐶🐾🐾🐾 on August 10, 2021 at 2:59 pm

    New York Gov. Andrew Cuomo resigns after report finds sexual misconduct claims credible
    https://www.latimes.com/politics/story/2021-08-10/ny-governor-andrew-cuomo-resigns-after-report-confirms-sexual-misconduct

    The shoe has dropped. Dirty Cuomo is about 65 y/o, time to take that $40K/year pension and get out of Dodge, he better hope he is not charged criminally.

    Reply

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