Lavish, Gold-Plated Pensions Making Millionaires of Springfield & Greene County Teachers and MO Government Employees
SPRINGFIELD–A report released today by Taxpayers United of America (TUA) reveals that Springfield & Greene County Teachers are not only receiving very generous salaries but that the estimated pension payments of the teachers and MO government employees in many cases are larger than some salaries in the private sector. Furthermore, over a normal lifetime, many of these government employees, when retired, have 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.
“Springfield/Greene County public school teachers and Missouri government employees are pulling in huge salaries and 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 Greene County, unemployment is 8.2%, the average wage is $35,500, and the median housing value is $123,000.”
“Heading the list of Greene County public school Teachers’ Top 100 salaries and estimated pensions is Norman Ridder of Springfield Sch. Dist. R-XII, pulling in generous total wages of $156,193. When Ridder retires, his pension is estimated to start at $124,645 a year — $10,387 a month. Over a normal lifetime, he will collect an astounding $5,359,724 in estimated total pension payments.”*
“Vern Minor of Republic Sch. Dist. R-III receives total wages of $147,676. When Minor retires, his pension is estimated to start at $118,257 a year — $9,855 a month. Over a normal lifetime, he will collect $5,085,051 in estimated total pension payments.”
“In the State of Missouri, unemployment is 8.8%, the average wage is $45,000, and the median housing value is $135,000.”
“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%.