For the Good of Illinois

Real Clear Politics: The Bigger Battle Behind McCabe's Secret, Potential $1.9M FBI Pension

March 16, 2018 10:20 AM
(not rated)

Real_Clear_Politics            

Read the original article, click here.  

The Bigger Battle Behind McCabe's Secret, Potential $1.9M FBI Pension

By Norman Leahy, RealClearInvestigations
March 16, 2018
 
FBI Deputy Director Andrew McCabe has left the bureau under a cloud, but for him there’s a silver lining: his federal pension, which could provide him a lifetime payout of $1.9 million.
 
Yet taxpayers will never know for certain how big a pension McCabe gets, nor can they learn about pensions due any other federal employee, including members of Congress. The Office of Personnel Management keeps that information secret, exempting it even from freedom of information requests.
 
Adam Andrzejewski, president of the watchdog group Open the Books, said opening pension records to public scrutiny is "the next phase of the transparency revolution."
 
"Citizens should not have to have a search warrant to see how their money is being spent," Andrzejewski said. Besides, he added, "You can’t reform what you can’t see."
 
Various organizations have tried for decades to force the personnel office to cough up the numbers. The National Taxpayers Union sought access to congressional pension data in 1993. In both 2013 and 2016, Andrzejewski tried again to get the pension data.  The OPM declined, citing a 1989 federal appeals court ruling that releasing the names and addresses of federal annuitants "would result in a clearly unwarranted invasion of privacy."
 
Government watchdogs say this secrecy is troubling for many reasons.
 
First, they note the privacy argument makes little sense since the federal wages and bonuses many employees receive are public records. Open the Books has mapped wages and bonuses for 1.97 million of the nation’s 2.7 million civilian federal workers by name and ZIP Code (McCabe’s salary figures were not available).
 
Without elaborating in an email to RCI, an OPM spokesman said, "The privacy interests differ for those who are current federal employees vs. those who are now private citizens."
 
Watchdogs also argue that pensions should be public records because they are a large part of the federal budget. The Congressional Budget Office said pension payments to the nation’s 2.6 million retired civilian federal workers and dependents totaled more than $91 billion in 2016.
 
Like many public and private pension systems, the federal version doesn’t have enough assets to cover its promised payouts. A 2016 Moody’s report said the unfunded liability for those federal pensions tops $3.5 trillion, roughly 20 percent of U.S. GDP. Moody’s also noted that the unfunded liabilities of the Social Security system reach nearly $13.4 trillion, or 75 percent of GDP.
 
Finally, watchdogs argue that public pension transparency is especially important when it involves officials who have left under a cloud, such as McCabe. He departed abruptly under pressure Monday amid congressional questions about his role in the Hillary Clinton email and Trump-Russia investigations.
 
Nevertheless, outside organizations like the taxpayer union can still make educated guesses as to how much the 49-year-old McCabe, a 21-year FBI veteran, might get based upon his years of service and estimated salary.
 
The taxpayer union’s research director, Demain Brady, calculated that McCabe could get as much as $56,000 per year – even if he accepts another job. Based on the government’s standard assumption that each retiree will live to age 83, his lifetime payout would total $1.9 million.  In addition, he is eligible for generous health insurance benefits.
 
Shedding light on the exact amounts federal workers can get from their pensions is the aim of a House bill introduced by Republican Rep. Ron DeSantis, a conservative now running for governor of Florida who has clashed with public unions.
 
DeSantis’ Taxpayer Funded Pension Disclosure Act would open federal pension records to the Freedom of Information Act, including the size of a retiree’s monthly pension payment, as well as how much the retiree contributed to the federal pension system.
 
Retiree medical records and designated beneficiaries would still be exempt from FOIA.
 
Read the original article, click here.  
 

Back

 

Comments

 

Rate this News Article:



 
   Indicates required field
Name
 
City
 
Email
 
State
 
Comment
 

2000 characters left

Please enter text you see below
 

No comments have been posted to this News Article