ALBANY, N.Y. (WKBW) — In New York, state workers can receive a full pension at age 62 or at age 55 with 30 years of credited service.
New York Governor Andrew Cuomo is now 63 years old, and according to data from the Empire Center, he earned $225,000 in 2020.
So what happens to Cuomo's pension after the announcement of his resignation?
He will still receive his pension and has filed his application for service retirement, according to State Comptroller Tom DiNapoli. Although the transition of power from Cuomo to Hochul will officially take place at 12:00 a.m. August 24, Cuomo's retirement will take effect September 1 due to state pension requirements.
A bill that is currently in committee in the New York State Senate, sponsored by Senator James Skoufis (D - 39th District), "revokes the public pension of a public officer who stands convicted on an impeachment; applies retroactively." This could have had an impact on Cuomo if he was impeached but, Speaker of the New York State Assembly Carl Heastie announced the assembly would suspend its impeachment investigation following Cuomo's resignation effective August 25.
Currently the pension of a public official can be reduced or revoked if they are convicted of a felony related to his/her official duties.
ABC News reports experts have said his pension could be up to $50,000 annually.
According to data from the Empire Center, the following pensions were received by previous New York Governors:
- George Pataki - 2020: $103,036
- David Paterson - 2020: $65,911
- Mario Cuomo - 2014: $55,862
- Hugh Carey - 2011: $17,151