Politics & Government

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.

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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."


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