And that’s without counting in Social Security!
According to the latest PSERS pension data the top ten highest paid pensioners of the East Penn School District fit within the so called 1%’ers within all PSERS retirement members. There are 208,947 retired PSERS members and former EPSD school board secretary, Celia Birdsell is #2284 receiving $6776.10/month from the over $40 billion underfunded public pension fund. That’s over $81,000/year and that doesn’t even include her Social Security income, which could be over $2000/month for a total retirement check of $8776.10/month or $105313/year. Not bad for a former secretary in the East Penn School District, and we wonder why the public pensions are in a crisis!
Also remember that she was #10; East Penn’s #1 pensioner, so far, is Gregory Nolan who is #806 out of the 208,947 PSERS retiree lineup. He receives $8025.98/month or $86311.40/year and then add the $2000+ Social Security and he ends up with over $120,000/year.
Who is #1 you ask? Well it’s Dr. Anthony Costello who retired in 2010 at $18,557.10/month or $222,685.20/yr.
The good doctor has already received over $1,113,426 that is almost $900,000 more than the average retiree will earn in their average life and he did it in only 5years.
“Social Security Is the Principal Source of Family Income for Nearly Half of Older Americans”. According to AARP has a link to their full report.
This issue is critical to how our schools will actually back their claim “it’s for the children” when practically every dollar of every school tax increase already goes to fund these out of control public pensions. When that happens how much do you think goes “to the children?” If you guessed very little to none you are correct.
And why is this happening? Do you remember the last time you voted for your school board members? If not it’s your fault, because those school board members are the ones that voted to increase the public union members pays and benefits in contract negotiations. Every time the school board members voted yea to a public union contract that added to the PSERS pensions and thus the $45 Billion underfunded PSERS public union pension crisis.
It is so bad now that practically every penny of every school tax increase the school boards across PA vote yea to goes to pay for those public union pensions. Read that sentence again practically every penny of school tax increase you will pay into the foreseeable future will go towards PSERS public union pensions leaving the school districts with nothing to put towards student programs, except ever more costly teachers living the good life after they retire, and East Penn teachers are in the top ten living the good life.