Posted on 10/21/2010 4:36:00 PM PDT by Libloather
Widow of ex-Metra chair entitled to $80,000-a-year pension
October 21, 2010 5:44 PM
The late executive director of Metra would have gotten a sweet pension, $170,000 a year, had he retired from the commuter rail line and not committed suicide, officials disclosed today.
As such, Phil Pagano's widow will receive an $80,000-a-year survivor benefit based on her spouse's pension for his years of running the commuter rail line, officials said.
Pagano's pension was based on his years of service and annual pay, and did not result from so-called "pension spiking," as has been shown to be the case at many state and local governments, officials said.
Pagano committed suicide May 7, just before Metra's board was to consider firing him. The survivor's benefit was agreed upon in recent weeks after negotiations with Pagano's widow, Barbara, said Clinton McHugh, acting general counsel for the Regional Transportation Authority, which administers pensions for Metra, Pace and the RTA.
The pension Pagano would have received and his widow's benefit were not based on any compensation Pagano may have obtained under questionable circumstances, McHugh said. Barbara Pagano would not be reached Thursday for comment.
Pagano ran Metra the last 20 years. His base pay reached $269,625 last year.
(Excerpt) Read more at chicagobreakingnews.com ...
Um, I thought that suicide negated a lot of contracts, including life insurance. I didn’t know it doesn’t negate juicy taxpayer financed pensions for widows until THEY die.
Not suicide, after two years (In my state) Life ins will still pay.
These Sweetheart Pensions should be thwarted NOW.
With unemployment in the public sector in the range of 10%, there is NO WAY that the government sector should have increases in hiring, like they have, to try to taint the un-employment figures (that's what's happening).
Likewise, public sector compensation now exceeds the private sector comparable position pay scales, and there is no limit on raises voted for them without PUBLIC approval. There should be an immediate 10% layoff of public sector employees across the board (not the political move of laying off police and fire to hurt the public, but rather, ACROSS THE BOARD, including staff and administrative positions). Let the public sector suffer the way the private sector is suffering, due to the interference with freedoms and taxation up the ass.
The layoffs will then include the "penison spikers", and their pension-padding will be inhibited to make their "pain" comparable (somewhat) to private sector laid off employees who were ALSO approaching their retirement, and had their plans ruined.
After 2 years, life insurance pays.
Is this the whistle blower who died in a suspicious “suicide?” From what I recall, it sounded like he was “Vince Fostered.”
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