Perry’s Working Retirement Sheds Light on a Perk
By JAY ROOT
NYT
An obscure 1991 provision dealing with state pension benefits was only a few paragraphs long, and it escaped public notice at the time. Even the lawmakers who passed it said they did not know what the fine print accomplished until it became law.
But 20 years later, Gov. Rick Perry — and an elite group of other veteran politicians — can thank Government Code 813.503 for the lucrative pension benefits they are allowed to collect without leaving office.
Politicians’ pension records are private, so it is unknown how many are taking advantage of the provision. But any state representative, senator or nonjudicial state elected official who meets the age and service requirements is entitled to some benefit under the law, at wildly varying amounts depending on the official’s highest average state salary and individual circumstances, Employees Retirement System officials say.
Mr. Perry invoked the provision last year, disclosing in December that he had increased his take-home pay by more than $90,000 a year through his on-the-job retirement. He also makes $150,000 a year as governor.
(More here.)
NYT
An obscure 1991 provision dealing with state pension benefits was only a few paragraphs long, and it escaped public notice at the time. Even the lawmakers who passed it said they did not know what the fine print accomplished until it became law.
But 20 years later, Gov. Rick Perry — and an elite group of other veteran politicians — can thank Government Code 813.503 for the lucrative pension benefits they are allowed to collect without leaving office.
Politicians’ pension records are private, so it is unknown how many are taking advantage of the provision. But any state representative, senator or nonjudicial state elected official who meets the age and service requirements is entitled to some benefit under the law, at wildly varying amounts depending on the official’s highest average state salary and individual circumstances, Employees Retirement System officials say.
Mr. Perry invoked the provision last year, disclosing in December that he had increased his take-home pay by more than $90,000 a year through his on-the-job retirement. He also makes $150,000 a year as governor.
(More here.)
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