Albany, NY — The number of New York State and Local Retirement System (NYSLRS) retirees receiving six-figure pensions almost quadrupled over the last decade, increasing from 2,075 in 2012 to 8,237 in 2022, according to new data posted today on SeeThroughNY, the Empire Center’s transparency website.
The new data include pension information for 1,535 newly-retired full career police and firefighters—so defined after 20 years of service — enrolled in New York’s Police and Fire Retirement System (PFRS). In total, over $2.1 billion in pension benefits were paid to PFRS retirees in 2021. The average pension payment for newly retired full career police and firefighters was $87,347.
PFRS retirees represent just nine percent of the most recent cohort of NYSLRS pensioners, but constitute at least 55 percent of those receiving six-figure pensions, according to the newly posted data, which includes pension data for 462,568 NYSLRS members.
“The generosity of pensions paid to public employees in New York stands in stark contrast to the benefits most state residents receive upon retirement from their private sector jobs,” said Peter Warren, director of research at the Empire Center. “Most New Yorkers will not receive a defined benefit pension when they retire – let alone a six-figure annual payout. But their tax dollars fund pensions for government retirees that put a growing strain on public budgets — one magnified by the recent decline in financial markets where such funds are invested.”
The highest new pension payout went to retired Nassau Health Care Corporation physician Richard Batista, who collected $339,873. He joins 41 other new and existing NYSLRS retirees receiving pensions over $200,000.
NYSLRS had just 1,378 six-figure pensioners at the end of fiscal 2010, when the Empire Center first made the list available online at SeeThroughNY.
The Empire Center, based in Albany, is an independent, not-for-profit, non-partisan think tank dedicated to promoting policies that can make New York a better place to live, work and raise a family.
You may also like
$5.5 Billion NYCERS Pension Payments Include $70 Million in Back Pay
The pension plan covering most New York city government agencies, including the City’s subway system, had 47 members with pension payments of at least $200,00 last year, 11 more than in 2021, according to Read More
New York City Teachers’ Retirement System Adds More $200K Retirees
The number of retired New York City educators who received pensions over $200,000 continues to grow, reaching 117 last year. Read More
Average Pay Spiked at Port Authority in 2021
Average pay for Port Authority of New York and New Jersey (PANYNJ) employees increased nearly 10 percent last year, to $123,000. Read More
Over 700 MTA Employees Earned More in OT than Regular Pay in 2021, Data Show
More than 300 employees were paid at least $100,000 in overtime and at least 734 earned more in overtime than in regular pay at the MTA last year Read More
Legislative Spending Unevenly Divided Among Members
Spending by state lawmakers on office personnel and administrative costs varies widely, with some paying out nearly twice as much as others Read More
State OT, Salaries Up in 2021
Overtime pay for state employees rose to nearly $1 billion, and salaries increased by six percent during the 2021 calendar year, according to data posted today to SeeThroughNY.net Read More
Public School Retiree Pensions Set New Record
Average pension benefits for newly retired public educators outside New York City reached a record high last year Read More
Most Long Island Educators Paid at Least $100,000 Last Year
18% of all public-school teachers and administrators employed by school districts outside New York City were paid over $100,000 last year Read More
Enjoying our work? Sign up for email alerts on our latest news and research.