Silver’s Golden Parachute

  I found this on the Empire Center NY Torch Blog.

  Based on his 38 years as a state assemblyman and the speaker’s salary of $121,000, Silver is now eligible for a pension of $87,120 — $7,620 more than the base pay he will collect as a mere Assembly member with no leadership title.

  But Silver’s pensionable “service credits” may add to that amount. If he was enrolled as a full-time member of the New York City pension system when he began working as a Civil Court clerk in 1971, he could have Tier 2 status, boosting his benefit to as much as $98,010.

  Both of these figures assume Silver chooses the “single life option” and doesn’t owe the system money for loans against his pension.

  Under current state law, Silver can continue to collect his pension even if he is convicted on the charges filed against him by federal prosecutors last week.

  Here is the link to this entire article.