High pensions are shock to taxpayers

BUFFALO, N.Y. (WIVB) - New York State's ballooning deficit is stressing under the weight of high-powered pensions. Believe it or not, some pensioners are also collecting hefty paychecks!

You could say some retirees are living large on the backs of taxpayers. They're collecting big pension checks. And in some cases, they're doing it while continuing to work for the state.

First responders, police and firefighters in the state's police and fire retirement system are among the big earners when it comes to pension benefits.

>>>Click here for list of top earners and database

Attorney General Andrew Cuomo said, "We understand that we made a fair bargain with the public employees."

Taxpayers may question what's fair when they see the top pension earner, George Philip, the former head of NY State Teacher Retirement systems collects $261,000. He makes $280,000 as the president of the State University in Albany. The Empire Center is making the pension payments public.

Lise Bang-Jensen of the Empire Center said, "The public needs information about how their tax dollars are spent. Those can advise elected officials about what policies should be implemented."

WNY's top pension earner is Dr. Youcef Rostum at Roswell Park Cancer Institute. His pension is $203,000 annually. He retired in 2008, but returned to chair the Department of Cancer Biology. The Empire Center says he made $208,000 last year, plus his pension.

"The question is whether taxpayers can afford to make such generous donations to employees in the future," said Bang-Jensen.

With the state budget crisis, that's a question that will be asked over and over. When it comes to police and fire retirees, the top three pension checks in WNY go to former Buffalo officers, with the biggest payout of $125,930. Attorney General Andrew Cuomo, who is running for governor, says his office is looking into abuse of the system, otherwise known as "pension padding."

"Where you run up the salary and the end of your employment so you artificially run up the pension benefits," explained Cuomo.

The pension payouts may shock you, but the bottom line is there is nothing illegal about the way some people are adding to their retirement. The question is: how much longer can taxpayers afford to pay?