Lavish, Gold-Plated Pensions Making Millionaires of St. Louis County Teachers and MO Government Employees
ST. LOUIS–A report released today by Taxpayers United of America (TUA) reveals that St. Louis County Teachers and Missouri government employees 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 employees, 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.
“St. Louis County public school teachers and Missouri government employees 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 St. Louis County, unemployment is 9%, the average wage is $47,000, and the median housing value is $175,000.”
“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.”
“Heading the list of St. Louis County public school Teachers’ Top 100 salaries and estimated pensions is Robert Malito of Parkway C-2 Sch. Dist., pulling in generous total wages of $223,930. When Malito retires, his pension is estimated to start at $175,448 a year — $14,621 a month. Over a normal lifetime, he will collect an astounding $7,544,243 in estimated total pension payments.”*
“Donald Senti of the Clayton Sch. Dist. receives total wages of $218,158. When Senti retires, his pension is estimated to start at $171,119 a year — $14,260 a month. Over a normal lifetime, he will collect $7,358,096 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.”
“Missouri’s pension system is making multimillionaires out of public employees at taxpayer expense,” said Tobin. “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%.