Lavish, Gold-Plated Pensions Making Millionaires of Jefferson City Teachers & State Gov. Employees
JEFFERSON CITY–A report released today by Taxpayers United of America (TUA) reveals that Jefferson City teachers are not only receiving very generous salaries but that their estimated pension payments in many cases will be larger than some salaries in the private sector. Furthermore, over a normal lifetime, many of these government school teachers, when they retire, will become pension millionaires.
The State of Missouri refuses to release information on teacher pensions, resulting in their being estimated. Other government pensions are available with FOIA requests.
“Jefferson City (Cole County) government school teachers are pulling in huge salaries and will have lavish, gold-plated pensions when they retire” said Christina Tobin, TUA Vice President. “Meanwhile, Missouri taxpayers are suffering through the worst economic climate since the Great Depression.”
“In Cole County, unemployment is 7.2%, the average wage is $35,800, and the median housing value is $131,000.”
“Of the Top 25 teacher salaries and estimated pensions for Cole County, 21 are of teachers in Jefferson City.”
“Heading the list of Jefferson City public school Teachers’ Top 25 salaries and estimated pensions is Brian Mitchell of Jefferson City Sch. Dist., pulling in generous total wages of $180,400. When Mitchell retires, his pension is estimated to start at $142,800 a year — $11,900 a month. Over a normal lifetime, he will collect an astounding $6,140,400 in estimated total pension payments.”*
“Julia Sharpe of Jefferson City Sch. Dist. receives total wages of $136,500. When Sharpe retires, her pension is estimated to start at $109,875 a year — $9,156 a month. Over a normal lifetime, she will collect $4,724,625 in estimated total pension payments.”
“Arthur Allen of Jefferson City Sch. Dist. receives total wages of $119,030. When Allen retires, his pension is estimated to start at $96,773 — $8,064 a month. Over a normal lifetime, he will collect $4,161,218 in estimated total pension payments.”
“Of the Top 100 Missouri government pensions, Willis Magruder, formerly of Truman State University, receives an estimated annual pension including Social Security of $185,531 — $15,461 a month.”**
“Dean Hubbard, formerly of Northwest MO State University, receives an estimated annual pension including Social Security of $172,245 — $14,354 a month.”
“Nicholas Bartulica, formerly with the Mental Health Department, receives an estimated annual pension including Social Security of $145,525 — $12,127 a month.”
“There is no fair representation of the people. This is a universal, non-partisan problem that burdens left and right alike. This information is of great importance to the public, as shown by the extensive press coverage that our government pension reports have received across the country.”
“Missouri’s pension system is making multimillionaires out of public employees at taxpayer expense,” said Tobin. “Public employees should contribute more towards their pensions and all government retirees should be required to pay more towards their Healthcare. All new government hires should plan for their own retirement with 401(k) plans and Social Security, just as workers do in the private sector.”
*Total Pension Payout uses IRS Life Expectancy Tables at age 65 (21 years).
** Until 2011, State Employees contributed zero toward their pensions. After 2011 they will contribute 4%.