Ex-Port Authority CFO’s pension draws scrutiny

New York state officials are reviewing a retirement incentive that helped boost the pension for the former chief financial officer of the Port Authority of New York and New Jersey to $233,000 a year.

Aaron Blanco received a $125,000 severance payment that increased his compensation to nearly $500,000 when he stepped down in 2010. Eric Sumberg of the New York Comptroller’s Office said officials are reviewing a state law that prohibited employees from taking advantage of the 2010 retirement incentive if they were also to receive certain end-of-career payouts.  (Associated Press)