Eugene Egan, an 86-year-old retired worker for the New York City Department of Sanitation (DSNY), is reportedly collecting a pension of $285,047 a year, according to new data released by the Empire Center for Public Policy.
Egan, who served as director of labor relations for years, was earning $128,189 when he retired in 2015, and because he joined the department before July 1973, he was enrolled in the Tier 1 pension, a generous plan that no longer is available.
New York Post has more information:
Egan wouldn’t break down the details of his sweet Tier 1 deal, which is no longer available to today’s city workers. The average Department of Sanitation pension is $49,405, according to the Empire Center.
“You retire. That’s it,” he snapped, before shutting the door on a Post reporter, instructing him to “get an honest job.”
There are only 853 active Tier 1 members left in Gotham, according to the Comptroller’s Office.
But the eye-popping pensions still show the city should move toward defined contribution systems like 401(k) plans instead of such unsustainable schemes, according to Citizens Budget Commission vice president Maria Doulis.