New York State's pension system isn't in freefall like New Jersey's (although a recent report on New York City's liabilities called it at risk of "operational failure") but some annual payments are still jaw-dropping. NY Databases just issued a report on the top pension beneficiaries. Here's a few examples.
- James A. Felton, who retired in 2010 after 24 years as superintendent of Commack Public Schools on Long Island, has a maximum annual payout of $326,214.36. He made $363,000 in his last year there (no salary caps in N.Y. like in N.J.) and upon retirement also received almost $300,000 in unused sick time.
- Sheldon Kamilow, who retired in 2011 from superintendent of Half Hollow Hills Central Schools, also on Long Island, has a maximum annual pension of $322,650.48
I think we're looking at more than "operational failure."
- Carole Hankin, former superintendent of Syosset Public Schools (what's up with Long Island?) gets an annual pension check for $320,151.96.