Columbus—Taxpayers United of America (TUA) revealed government employee wages and pension estimates for  Columbus, Fairfield, Delaware and Franklin Counties, and OSU.  Ohio’s government employees are not only receiving generous salaries, but when retired, many will become pension millionaires.  Ohio officials refused to release pension figures, so the pension payouts are close estimates* for this report.
“Why are Ohio lawmakers hiding their pension information?  Are they more concerned with protecting abusers, than reforming a system that holds taxpayers hostage?” asked Christina Tobin, TUA Vice President.
“Columbus area taxpayers are struggling with average wages of $41,000 to $48,000, and perhaps someday Social Security… they hope!  Ohio Government employees get up to 31 years of retirement benefits.  But the maximum  Social Security annual benefit is $22,000, regardless of how much someone earned in a career.”
“Columbus Police Deputy Chief John M.Rockwell can look forward to an estimated lifetime pension payout of $10,030,018, that is $213,405 annually, based on his current gross of $296,395.”*
“Columbus government teacher Doris Ridgeway had annual gross wages of $105,719 and looks forward to an estimated annual pension starting at $69,775 with an estimated lifetime payout of $3,628,287.”*
“Ohio government employee Zinovi Goubar had annual gross wages of $325,700.  Goubar will enjoy $7,738,637 in estimated lifetime pension payouts.  That’s at least $214,962 annually.”*
“Franklin County government employee Jed Morrison grossed $227,330 annually.  He stands to receive an estimated beginning pension of $178,454, with a lifetime estimated pension payout of $6,424,356.”*
“Each of the top 100 pension estimates of Ohio State University employees reaches the maximum estimated pension payout of $214,500 annually for an estimated lifetime total of $7,722,000!”*
The Buckeye Institutes’ Diehl Research Fellow, Adam Schwiebert added, “Ohio lawmakers must be forward thinking and implement comprehensive reforms.  Anything less is fiscally irresponsible and shortchanges taxpayers and government retirees in the long term.”  Schwiebert is the author of The Buckeye Institute’s comprehensive study of the Ohio government pension systems, “Hanging by a Thread”.
“Let’s knock any politician out-of-office, who cut bad deals with union bosses and corporations! Republican or Democrat, what’s the difference with numbers like these?”
Click below to view pension amounts:

*For Police and Fire employees, 31 years with retirement at age 54, others as noted.  Assumes dividend (COLA) averages 3% per year. Assumes current salary is same as retirement salary. Est. Total Pension Payout 30 years at age 54, 25 years at age 60. No SS included in to the above numbers, for Ohio public pension retirees. Wage limit of $325,000 for pension calc. i.e. salaries over $325K are not used in pension calculation for all employees hired before 1994, $225,000 after 1994.
 

By on February 6, 2012   /   Latest, News Releases, Ohio, Pension Reform  
3 Comments
  1. Tough Love
    11:20 am on February 8, 2012

    Even if the pensions were hard frozen (i.e., ZERO future growth), that would do nothing with respect to the enormous unfunded liability Taxpayers are told they must pay for.
    Well I don’t think so. We need are RESET … a reduction in the ALREADY ACCRUED pensions to the level that WOULD HAVE BEEN GRANTED in the absence of the collusion between the Public Sector Unions and our elected representatives ……. you know, the trade of campaign contributions and election support in exchange for favorable votes on pay, pensions, and benefits.
    We need immediate pension reductions of 50% (and we’ll see if that’s sufficient).
    Taxpayers …. if they won’t go along … renege on all pension promises by ZERO further funding. Let the Plans buy pension annuities that CURRENT assets can support … and no more !