Click to view release as PDF
COVINGTON–A report released today by Taxpayers United of America (TUA) reveals that Florence, Kenton County, and Boone County government employees are not only receiving generous salaries, but that over a normal lifetime, many of these government employees when they retire will become pension millionaires. Kentucky bureaucrats refuse to release pension figures, so total pension payouts were estimated* for this report. The city of Covington refused to even provide salary information for current employees and instead provided a list of city government positions.
Click below to view the pension information:

“Boone and Kenton County taxpayers struggle through this recession with an average wage of $40,000 and $43,000, respectively, median home values of $174,100, $143,000, and 7.9% and 8.5% unemployment. Government employees really rake it in while they are employed and then when retired,” said Christina Tobin, TUA Vice President.
“Starting first with the top 25 salaries and estimated pensions (2010) for Boone County employees, heading the list is County Administrator Jeffrey Earlywine, whose annual gross wages were $130,024. When he retires, he will receive an estimated annual pension of $85,816. Earlywine’s estimated total pension payout over a normal lifetime is $3,432,652.”*
“Boone County government teacher, Mary Ciccarella will receive and estimated lifetime pension payout of   $2,109,673 from her annual gross wages of $ 70,322.”*
“Kenton County employee, Scott Kimich isn’t far behind with annual gross wages of  $112,750.  Kimich’s estimated annual pension is $74,415 and over a normal lifetime will total an estimated $2,976,604.”*
“Kenton County government teacher, Jerome Moore received annual gross wages of $ 74,671 and will enjoy a cozy estimated lifetime payout of $2,240,139.”*
“Topping the list of Florence city employees is Police Chief, Thomas Szurlinski, with an estimated $2,633,255 lifetime pension payout for his annual salary of $99,744.”*
“Boone and Kenton County government pension systems are making millionaires out of public employees at taxpayer expense. Although some reforms have been made to the Kentucky government employee pension systems, additional reform is critical. Ending pensions for all new government hires would eventually eliminate unfunded government pensions; putting new government hires into social security and 401(k)s would achieve this. If each current government employee were required to increase contributions toward his or her pension, taxpayers would save billions of dollars.”
“We need to knock all politicians out of office who make deals with bad government union bosses and bad corporate power brokers at the expense of the taxpayers.”
*Assumes retirement after 30 years, 2.2%/yr worked,  retirement at age 52, life expectancy 32 years (IRS Form 590),  COLA of 2% per year (1.5% guaranteed plus .5 add-on),  last salary is avg. salary.

By on December 20, 2011   /   Kentucky, Latest, News Releases, Pension Reform