Coming Soon to Your State!

More than 1,200 former N.J. public employees collect pensions of at least $100,000 annually

 

Retired Essex County College president A. Zachary Yamba has 195,000 reasons to smile. That's how much his annual pension is — the most of any retiree in the state.

 

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.

See the list of retirees whose pensions are at least $100,000