More than 1,200 former N.J. public employees collect pensions of at least $100,000 annually
TRENTON — The number of retired public employees who collected pensions of $100,000 or more in 2011 has climbed to 1,244, according to a report on New Jersey Watchdog.
The list is topped by former Essex County College president A. Zachary Yamba, whose pension is $195,000 a year.
Former Rutgers athletic director and New Jersey Sports and Exposition Authority head Bob Mulcahy has a pension worth $162,399 annually. He also got a severance package worth about $600,000 when he was fired by Rutgers in 2008.
Retired Ridgefield Park superintendent John Richardson, who gets a pension of $160,418, is third on the list.
The number of retirees who receive at least $100,000 — some of whom have since accepted other public jobs — has grown 28 percent since 2010, the report said.
Among those who have gone that route are New Brunswick police director Anthony Caputo, who "retired" at age 47 to collect a $115,019 per year pension. Caputo was rehired to the same position 15 months later and is paid $120,000 a year on top of his six-figure pension. Caputo also pocketed more than $376,000 in unused sick and vacation time when he "retired."
The $100,000 club includes 383 retirees from the Teachers’ Pension and Annuity Fund, 253 from the Judicial Retirement System and 99 from the Public Employee Retirement System, New Jersey Watchdog reported.