TOLEDO—Taxpayers United of America (TUA) revealed government employee wages and pension estimates for Toledo and Lucas County. 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
“I have hand delivered letters to Gov. Kasich and each member of the Ohio General Assembly, asking for transparency regarding individual pension amounts, as well as meaningful pension reforms that will be both fair and sustainable.”
“Toledo area taxpayers struggle through this recession with an average household income of $41,000, while government employees really rake it in for as many as 31 years of retirement benefits.  The maximum annual Social Security annual benefit is $22,000, regardless of how much an individual earned in their working career.”

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“Toledo mayor, Michael P. Bell can look forward to an estimated lifetime pension payout of $4,142,076, that is $88,129 annually, based on his current gross of $122,402.”*
“Toledo government teacher, Francine Lawrence had annual gross wages of $97,098 and looks forward to an estimated annual pension starting at $64,085 with an estimated lifetime payout of $3,332,408.”*
“Lucas County staff attorney, Jeffery B. Johnston had annual gross wages of $151,552.  Johnston will enjoy $4,282,849 in estimated lifetime pension payouts or at least $118,968 annually.”*
“Lucas County deputy coroner pathologist, Diane Marie Scala-Barnett grossed $142,491 annually and stands to receive an estimated beginning pension of $111,855 with a lifetime estimated pension payout of $4,026,792.”*
“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?”
*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 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 9, 2012   /   Latest, News Releases, Ohio, Pension Reform