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Former Moorestown School District Officials Collect Pensions Worth Over $100K

John Bach and Vito Germinario made are on the list recently released by New Jersey Watchdog.

Former Moorestown School District officials John W. Bach, and Vito Germinario are among school district and government officials in New Jersey who receive pensions of over $100,000 annually, according to a New Jersey Watchdog report.

Bach’s pension is worth $124,620 annually. He makes $10,385 a month.

Germinario rakes in $111,449 a year, which breaks down to $9,287 a month.

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.

The report 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.

"We 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 select few."
Tom February 25, 2014 at 08:11 AM
if we stop paying them this we can reduce the $5 million budget gap down. Will you be reporting on that story soon?
Yah Mo B There February 25, 2014 at 09:23 AM
Nothing to see here citizen. Our government schools are fine. No watchdog needed, we just need a bit more of your private sector income (median township income of 108k, below the mentioned lifetime pensions). Now if you'll just quietly hand it over without any questions and move along.
Pete February 26, 2014 at 10:50 PM
We should all be appalled by this insult to the taxpayers. This clown worked for Moorestown for five years and he gets $125k annually for the rest of his life. He only left because Christie enabled a salary cap on the superintendents. I WANT NAMES. What idiot on the BOE wrote his employment contract? They are to blame for this fiasco. I WANT NAMES ! ! ! We are looking for a new Super at this time. Will the employment contract be made public?
Really? February 28, 2014 at 08:36 AM
I've come to accept my exorbitant property taxes assuming my money is well spent. This on the other hand is a ridiculous waste. Doesn't the BOE have a fiduciary responsibility to taxpayers?
Pete February 28, 2014 at 11:14 AM
Of course they have a fiduciary responsibility. Seems that they don't take that seriously though. I WANT NAMES !

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