Only two retired employees of the Lacey school district and municipal government, the former schools superintendent and former police chief, made the list of the state's '$100K Club' for retirees, according to a report out this week from NJ Watchdog, a taxpayer advocacy group.
But Lacey's results are not typical of statewide trends. New
Jersey’s so-called '$100K Club' of retired public officials has ballooned by 75
percent in the last three years, the group said this week following its conducting of an analysis of state treasury data.
comes as state pension funds face a $47 billion shortfall, according to
the treasury’s estimate. Gov. Chris Christie is expected to address
pension issues in his budget address today.
need to have the conversation now about further changes to our pension
system and to adding further to the state’s debt load,” said Christie in
his State of the State address last month. “If we do not choose to
reduce our soaring pension and debt service costs, we will miss the
opportunity to improve the lives of every New Jersey citizen, not just a
In Lacey, former schools superintendent Richard Starodub receives $122,254 per year, or $10,188 per month, in pension benefits. Former police Chief William A. Nally receives $108,257 per year, or $9,021 per month.