New Jersey’s so-called '$100K Club' of retired public officials has ballooned by 75 percent in the last three years, the group said this week following its conducting of an analysis of state treasury data.
The report comes as state pension funds face a $47 billion shortfall, according to the treasury’s estimate. Gov. Chris Christie is expected to address pension issues in his budget address today.
"We need to have the conversation now about further changes to our pension system and to adding further to the state’s debt load,” said Christie in his State of the State address last month. “If we do not choose to reduce our soaring pension and debt service costs, we will miss the opportunity to improve the lives of every New Jersey citizen, not just a select few."
Locally, one of the employees is from Beach municipal government, one is from the Boro school district and two are from the Boro municipal government.
The top pension earner is former Point Boro Police Chief Raymond Hilling, whose pension is $112,507 per year, or $9,376 per month.
The other individuals on the list are:
- Robert A. Cooper, Boro municipal, $109,363/year; $9,114/mo.
- Daniel J. DePolo, Beach municipal, $104,570/year; $8,714/mo.
- Robert Ciliento, Boro BOE, $100,789/year; $8,714/mo.