Nearly 5,000 New York State retirees receiving $100K or more in pensions

Posted at 1:19 PM, Aug 10, 2018
and last updated 2018-08-10 17:31:51-04

The number of New York State retired employees who are receiving $100,000 or more in state pensions has increased. 

A total of 4,573 New York State retirees are receiving this amount.

According to a report from the Empire Center, the number increased by 20 percent at the end of the last fiscal year. More than half of those six figure pensions are going to police officers or firefighters. Nearly two-thirds are newly retired officers on Long Island. 

In 2017, there were 3,817 state retirees eligible for $100,000 or more. Majority are police officers. 

Reportedly these pension amounts do not include any separate payouts received for accumulated sick or vacation time and they are not taxed. 

But you should know that the average New York State pension for 20 years of service with police or fire is $79,151. For all the other state employees with 30 years of service the average pension is $49,085. 

Those figures don’t include Social Security benefits. 

The highest pension benefit among new retirees in the New York State and Local Retirement System went to a surgeon at Nassau University Medical Center, who was eligible to collect $321,065. 

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