Skip to comments.Perry drawing state retirement plus salary
Posted on 12/17/2011 2:00:04 AM PST by Cincinatus' Wife
..On a campaign swing through Cherokee, Iowa, Perry was asked why the Employee Retirement System should be paying his retirement while he's still collecting a salary.
"That's been in place for decades. ... I don't find that to be out of the ordinary," Perry said of the practice. "ERS called me and said, 'Listen, you're eligible to access your retirement now with your military time and your time and service, and I think you would be rather foolish to not access what you've earned.'"
...The governor's gross annual salary is $150,000; his net salary is $133,000. The net monthly annuity check Perry started receiving Jan. 31 is $7,698. Combined, his net pay from the state is now more than $225,000 annually.
...."As part of his standard financial planning, on Jan. 31, 2011, Gov. Perry began to receive a Texas state employee retirement annuity of $7,698 per month before taxes ($6,588 net)," [Ray] Sullivan said. "The annuity is consistent with Texas state law and Employee Retirement System rules."
'Rule of 80'
Perry, 61, has a long record of state service, having won election as a state House member, state agriculture secretary and lieutenant governor before becoming governor in 2000.
Sullivan cited what's known by state employees as the "rule of 80," which allows state employees to start drawing on their retirement when their age plus years of public service credit totals at least 80.
"The combination of Gov. Perry's U.S. military service, state service and age exceeded the state-required 80 years and qualified him for the annuity," Sullivan said.
Perry continues to pay 6.5 percent withholding tax from his state salary to the state retirement system, the spokesman added.....
(Excerpt) Read more at star-telegram.com ...
Agreed. This became an issue in Wisconsin where teachers and superintendents were double dipping and illegally arranging their succession to their own job. It is a big time cost a.d a political issue especially when government os no longer affordable.
Governor Perry lived on a farm. If you write him a letter I'll bet he could give you instructions on how to do that.
I think Perry OUGHT to be trying to reform this, as Gov.
I find the idea that he deserves retirement pay of $92,000 annually bizarre. I know politicians make sure they have huge retirements beyond the dreams of almost anyone in the private sector...but 92K? Based on being “a state House member, state agriculture secretary and lieutenant governor”?
Sorry, but I don’t think being a politician is “service”.
And BTW - my retirement pay for 25+ years in the military is about $50K. Given the conditions I lived under much of the time, I would have quit the military after about 8 years without the promise of retirement. So - how many state House members quit because their job means they spend much of each year living in tents away from their family? How many Lt Govs quit because they are tired of being shot at?
I also find this comment of yours obscene for a conservative:
“Gov. Perry is the executive of the 13th largest economy in the world, a state of 25,000,000 (and growing).”
Really? He is the CEO of all Texas? I thought he was responsible for the Texas state government...not the entire Texas economy.
When are the Board meetings for the Unified Texas Private Economy?
And a lot of those Wisconsin retirees move to states that don’t have state income tax [like Texas].
It really is up to state and local citizens to sort this out.
Remember the mess in Bell, California [one of the more infamous CA messes]?
I work the night shift.
Sun’s coming up here.
Over to you now.
Show me another governor who has worked harder or had more success than Rick Perry has in maintaining and promoting economic stability during this crippling Obama depression? I’m sure there are others but Perry’s the leader of the pack.
Because he’s pushed back against federal regulations, lawsuits and pushed for and achieved lower state spending, and gone out and brought business from around the country back here to Texas, he gets our votes and has earned his paycheck.
If the people of Texas want to cut government pension payments, it will happen.
The above is not a "golden parachute." In fact, ERISA prohibits an active employee from receiving any disbursement from the employer's DB Plan without termination first. There is an exception to that rule and it's called the age 70 1/2 Rule (which is a non issue in this discussion)
If that was not the law, then virtually every employee currently of retirement age under their respective employer's Defined Benefit Retirement Plan would be drawing their pensions as well as continuing their employment.....
Oh well have a beer on me then!
True. He’s 61 he’s drawing his retirement. Half the people in this country are taking their SS at 62.
Sarah Palin didn't.
Is it illegal? Nope.
I hate this crap. If what they are doing is not illegal, then STFU.
If you do not like the law, change the damn thing.
He got TWO YEARS SERVICE TIME for EACH ONE YEAR IN CONGRESS.
He was in office before the FERS system became mandatory, so he probably has the CSRS system.
With CSRS there's a fairly complex percentage system depending on how many years you've spent in government, or how that time was counted. This website is where you get the whole enchilada ~ a href="http://www.opm.gov/retire/pre/csrs/computation.asp">http://www.opm.gov/retire/pre/csrs/computation.asp
Yes. Gov. Scott Walker is another who walks this walk.
Guv’s a living breathing PR disaster. Too bad, because he is probably one of the most conservative of the lot.
I was just commenting on the perceived unfairness of it. There is a big push to close loop holes and decrease benefits for future retirees in many government pension plans..
The problem here is perception and consistency. Perry’s been squawking about how he’d cut Congress salaries in half, etc., yet, he’s collecting multiple paychecks (whether earned or not).
You might have a point if the pension funds were fully funded. But they're not.
I'm sure Texans won't mind having their taxes raised to cover these shortfalls so government workers can continue to collect their pensions.
As someone who is still undecided on a candidate, I was hoping Perry would make a comeback in the polls. But he should be a leader on the issue of pension reform, not just another follower.
The federal retirement system, even for Congress-critters, is generally not nearly as lucrative as being a school superintendent anywhere.
Totally agree and it’s peanuts anyway compared to all the illegal financial finagling by congress critters.
Who would even bring something like this up?
SatinDoll, I’m sorry about your circumstances, but why don’t you blame the person who is to blame and it’s not Rick Perry.
As long as Perry is following the same rules that are there for everyone else this is NOT an issue. Only a lib or RINO would fight tooth and nail to give someone something and then criticize them for taking it.
That would be $812.50 per month. If you paid $812.50 per month into an annuity or other investment for any period of time you would get the same.
He has been governor for 11 years so as governor alone he has put $107, 250 into the account. Add his other offices and services, such as the Air Force and "Perry, 61, has a long record of state service, having won election as a state House member, state agriculture secretary and lieutenant governor before becoming governor in 2000", and he has put a significant amount into the system. That is then invested and earns interest, usually compounded over time.
It is not that big a deal except to those who want to try to make political hay out of it. Why should any U.S. citizen be intimidated by that, much less a leader? That is the purpose of political correctness, to shut you up. A leader won't.
Well, if you want to go there, Sarah Palin made millions from books sales, while Gov. Perry donated the proceeds from his books to the Boy Scouts (and some other charity .. can’t remember)
“Gingrich is 68 now. He was 56 then. You have to have attained minium retirement age of 55 to get your retirement pay, so he made that. Otherwise, he’d had to have waited until he was 60 years of age.”
I am going on this....fwiw
Newt Gingrichs financial disclosure statement [PDF above] does not require the discloser of income from the government. He is eligible for a full pension as he served the required 20 years. He was Speaker from 1994-1999. His pension is based on an average of his salary for the highest 3 years.
Born in 1943, Gingrich is 68 under one scenario, he may have been collecting benefits for 12 years (plus medical):
Retirement with an immediate, full pension is available to Members at age 62
or older with at least five years of federal service; at age 50 or older with at least
20 years of service; and at any age to Members with at least 25 years of service.
Gingrichs government is likely to be on the order of $120 K/year + medical.
.Would it come as a shock to hear that former Speaker Newt Gingrich who resigned under an ethics cloud with 20 years in the House and former Senator Alan Simpson with 18 years in the Senate who serves on the Presidents Deficit Commission, both hard line advocates of cutting People Program entitlements, are on the public dole. Both collect full CSRS pensions including Cola increases, full medical care and other Congressional privileges. As an example, consider that Sen. Bill Bradley (NJ) who retired in 2000 after 23 years of service is expected to receive a total of $7.9 million in pension payments (assuming an average lifespan). ..
More recent examples of Congressional pension largesse are Senators Chris Dodd and Byron Doran who will collect $125,000 and $116,000 annually after 30 years of service, Judd Gregg will collect $63,000 for 16 years, Kit Bond and Jim Bunning will each receive $58,900 for 14 years of service. These pensions do not include annual COLA ‘adjustments.’ <<
That's a point and ERS has to be changed, but getting mad at Perry when Newt, Santorum, Paul & Michele are collecting or will be eligible for government pensions far more obscene and have never attempted to do anything about -- OK, maybe Paul has -- is kind of counterproductive.
Perry says he will cut congressional & presidential salaries if elected.
BECAUSE they would be working 1/2 fewer days in a year.
Little bits of barrel are clinging to this story as Perry critics are really reaching to the bottom of the barrel to bring this up.
Particularly when their own candidates are vulnerable to the same criticism.
Michelle Obama wasted hundreds of thousands of dollars of our money because she and all her kinfolk couldn’t wait a couple of days to go to Hawaii.
I don’t think we need to be worried about Rick Perry’s meager pension at this point, do you?
From where I’m sitting watching the musical chairs candidate game, the idea that this is even an issue while simultaneously conservatives willing throw values out the window and flock to a RINO who possesses the political gift of gab, shows me that blinders are firmly attached and principles have been stood on their head.
And where did all Obama’s money and tuition come from?
Well, consider the source. ALL of the Texas liberal media hate Rick Perry. They have for years.
The Austin liberals and the media in Texas cannot stand it that Rick Perry is popular, conservative and refuses to be swayed by all their bull.
The Dallas Observer actually blamed Perry for the rise in HIV among young Dallas men. Their reason? He is shutting down the Planned Parenthood clinics.
By the way, the feds are fighting him on that along with a few other things they’re righting Perry on.
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This is just how Rick Perry is. After Hurricane Ike devastated my community, he came here to survey the damage. He did not just walk through here surrounded by security and news cameras and then make a speech. That's not Perry. He showed up in jeans and a work shirt, no cameras, no press conference, and he walked among all of us who had been hit. A hug, a pat on the shoulder, a listening ear, and an encouraging word. He saw to it that emergency shelters were being set up and food and water were available to everyone. When Obama/FEMA refused to help us, Governor Perry set up state funding to help us rebuild our homes and our lives. My home is at 'ground zero' where Ike came ashore. We all took tremendous damage. FEMA sent me a check two months later for $600 dollars. Governor Perry set up the Recovery Fund to help us all rebuild. That is what a true leader and a true Christian does. That's my Governor! I can't wait to see America under the caring wing of Rick Perry.
Many Perry supporters were Palin supporters before Perry entered the race and Palin decided not to run. He is running and she is not, period! Why are you bashing Perry for something Palin did not do? I think the whole Palin thing is a red herring and that you oppose Perry regardless. If Palin were running most of us would support a Palin/Perry ticket or Perry/Palin ticket.
She is not running. Move on.
But, with the Texas budget surplus this year of $1.6 billion:
does someone want to complain about his ‘retirement’ compensation? LOL!
The tax revenues for the state of Texas are going up.
Go look at the debt clock, Texas clock is running backwards.
Our Taxes under Perry went down, not up.
And we are projected to have a $ 1.6 Billion surplus.
Read this....this is Texas management of state funds:
Now, gripe some more about Perry.
“...including those making a big issue out of this.”
And who are those making a big issue out of this? Texas democrats through their liberal newspapers including the Star-Telegram. Same folks making a big issue of providing accomodations for the Perry family after the fire at the Governor’s mansion.
It’s not working, though.
“This is no different than a military man retiring after 20 years in the service or a mailman.”
Well said, normy.
again I refer you to Texas state budget surplus:
I am surprised Perry didn’t refer to this in the debate the other nite.
The Perrys just paid off one student loan debt (I think Sydney’s) and are still paying off Griffin’s student debt.
Geniuses like Obama and Bill Clinton get “scholarships” to elite indoctrination mills.
Honest ? Now THAT’s funny !
Just read this and then talk about shortfalls in Texas. Okay?
I have been posting the budget surplus thing too. It’s a big winner.
“Honest ? Now THATs funny !”
That is funny. Trans-Texas Corridor, Gardasil, anyone? He’s more associated with Crony Capitalism than any other Republican that I can think of.
If he didn't take advantage of what is rightfully his, I wonder if they would call him "smart?"
I suggest you go back to thinking.
Don’t forget Xavier Rodriguez. What was the quid pro quo for putting a leftist Democrat on the TX Supreme Court ?
Actually it is your city that sets your rates for water/sewer. Some cities have lower rates because they have smaller demands on them for services. Not the state. Normally a sewer rate is set during the low water times (no lawn watering) so your;’s should be smaller unless you had a water leak. In that case you need to take it up with the city and have them recalculate your sewer rate.
if you compare the way Texas has been run over the last ten years with other states Perry ought to get a raise..