Retiring City Managers Cash-in on Millions in Benefits

Monday, 20 Jan 2014 08:35 AM

By Elliot Jager

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Some 35 retiring New York City supervisors are set to cash in unused vacation, comp and sick time to the tune of $11.4 million.

Senior civil servants in New York City government are permitted to carry over monthly up to 27 unused vacation days, compensatory time earned in lieu of paid overtime, and some of their unused sick time. As they ready for retirement, the managers can request these accumulated earnings in a lump-sum payment.

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Among the top earners were those involved in law enforcement, the  New York Daily News reported.

Michael Vecchione, the  former District Attorney Rackets Bureau chief in Brooklyn, will get $285,623 for 78 weeks of unused annual leave, the Daily News says. Newly elected D.A. Kenneth Thompson is attempting to block this payment.

But Vecchione's long-time boss, former Brooklyn D.A. Charles Hynes, said he had won a score of impressive gang and corruption cases working tirelessly for four years and with little vacation time off, The New York Times reported.

Retiring NYPD brass are also among the top earners.

For instance, the department's former chief, Joseph Esposito, cashed in on $201,096 in accumulated benefits, the Daily News said. He will earn an annual pension in excess of $100,000. Esposito rose through the ranks in over 40 years and left when he hit the mandatory retirement age. He earlier faced criticism from some for jabbing Occupy Wall Street protesters with his baton.

The department's chief of the Organized Crime Control Bureau, Anthony Izzo, garnered a $199,000 reimbursement for well over 200 unused vacation and comp days.

Other top retiring earners come from the Corrections Department which manages the city's jails. Michael Hourihane, the department's former chief earned a $194,980 payout.

Most private sector jobs have "use it or lose it" rules on vacation and comp time. However, those jobs tend to come with higher starting salaries, according to the Daily News.

Meanwhile, Mayor Bill de Blasio is facing salary demands, including more than $5.4 billion in retroactive raises, from city unions which represent over 300,000 municipal workers.

Editor’s Note: 250% Gains Bagged Using Secret Calendar (See Video)

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