It’s a Good Gig if You Know the Right People
Set aside whether or not he did it in a legit manner, there’s just something wrong when 10 years of public service gets you a $110,000 / year pension:
At the end of last month, [former Providence City Administration Director John C. Simmons] retired from his $160,837-a-year post as director of administration for Mayor David N. Cicilline in order to succeed Gary Sasse as executive director of the Rhode Island Public Expenditure Council. The fiscal condition of state and municipal pension funds is one of the abiding interests of RIPEC, a public policy think tank bankrolled by the business community.
Simmons has not yet applied for his municipal pension, which, if left undisturbed, is expected to be worth about $110,000 a year. He did not return a call seeking comment….
After rejoining city government under Cicilline, public records show that in 2004 Simmons paid $112,883 into the pension fund to obtain 5 years, 11 months and 15 days’ credit for his prior municipal service and 2 years, 11 months and 10 days’ credit for his service in the Army.
Adding that time to his 4½ years-plus service for Cicilline means that Simmons was able to compile more than the necessary minimum of 10 years’ total service to be eligible to receive a municipal pension.
Fox watching the hen house? Shouldn’t there at least be some sort of pension cap?