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aveg. 6 year
i FY21 - FY22
annual increase
21 2 increase
FY16 - FY21 FY FY2
$ % $ %
Pension |$ 1.69 7.9%|$ 25.49|$ 31.48/$ 5.99| 23.5%
FICA/Medicare| $ 0.14 1.8%|$ 865/$ 894/$ 0.29 3.3%
I pointed out the $1Billion in losses incurred through NHRS mismanagement. Couple that
to the insanity of paying for 100% funding of the NHRS fund.
Consider the exorbitant payouts to retirees who learned to “play” the system. | cited the
example of a former Deputy Fire Chief (current alderman) who collects on his retirement as
follows:
Example Pension Payments
Deputy Fire Chief
(current alderman)
Retired 1 June 2015
2015 § 65,000 severance payment
§ 94,000 NHRS pension payment
$159,000 retirement payment (ist year)
2016 $120,908 NHRS pension payment (2nd year)
(incl. additional severance payment)
2021 $111,844 NHRS Pension Payment
7,349 Medical subsidy (tax free)
$119,193 retirement payment (7th year)
plus 50% survival benefit
By comparison, here are the much lower Social Security payments to the taxpayers who have not
worked for the government:
Social Security Payments
2021:
$ 15,852 |retire age 65
average
$ 18,170 [all retirees
§ 37,356 |retire age 65
max
S 46,740 |retire age 70
" This publicly available information was obtained from the NHRS.
