Pension Crisis

NJ Government Retirees Rake In Big Bucks

Top five are retired school execs

|

New Jersey's elite $100K Club of retired public officials is growing bigger and fatter.

The number of retirees collecting more than $100,000 a year from state pensions hit 1,474 in 2012 – an increase of nearly 50 percent in two years, according to a New Jersey Watchdog analysis of state pension data.

Former Jersey City school superintendent Charles Epps heads the list with a $195,000 annual pension.  When he stepped down last year amid controversy and a gag order, Epps also received a $268,200 settlement plus $85,000 for unused sick time, according to NJ.com.

All of the Top Five pensioners are retired school executives.  A. Z. Yamba, former president of Essex County College, is tied for the lead at $195,000.  He is trailed by John Richardson, Ridgefield Park schools, $185,454; Vincent Ascolese, North Bergen schools, $180,180; and J. T. Morton, Sparta schools, $171,773.