New York, NY – They may not be Wall Street executives, but some retiring city workers still got a golden parachute, of sorts.
Join our WhatsApp groupSubscribe to our Daily Roundup Email
The New York Post reports that New York City paid out $46.6 million last year to retiring workers to compensate them for unused sick days and vacation time.
For most, the payments were modest rewards for staying healthy and working through days they were entitled to take off.
But a select few earned almost a year’s salary.
The Post reports that former Fire Department Deputy Commissioner Frank Cruthers got a payout of nearly $200,000 to cover unused vacation and comp time. He is also earning a disability pension of $242,000 a year.
About 7,000 people got payments. About half the money went to teachers and other school system employees.
so why shouldnt we all take fs, sec 8, and all other stuff ???
I have no problem with federal, state, county, and municipal employees receiving comfortable pensions, as well as other fringe benefits (medical and dental insurance, etc.). In many cases, those civil servants had to work 25-35 years under conditions which were not always the greatest (i.e. working in dilapidated buildings or unsafe work environments, no air-conditioning, not enough heat, abusive bosses and co-workers, hostile public, etc.). Therefore, they deserve to live out their retired lives in dignity and security.
What you may not realize is that this is money owed to the employees. Many city employees don’t or can’t take vacation, so the time/money accumulates. When they leave city service, they take the time/money owed them. This is a common practice even in the private sector. The major difference is that many companies in the private sector have a “use it or lose it” policy. If you don’t use the time within a certain period (usually that calendar year), you lose it.
“use it or lose is foolish.”
it does not reward the worker who does not take off
absenteeism causes a decline in productivity
do not blame the worker for a system which encourages productivity
this is “their” money that they “worked” for – it wasn’t Free money or bonuses.
46.6 million is not so much money if you think about the money saved by not paying substitutes and overtime for other employees to pick up the slack. Its a wash. This policy makes perfect sense.
i dont quite understand how someone gets over 200 thousand dollars a year in disability payment. how much was this persons annual salary to begin with?