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Ex-Port Authority CFO’s pension draws scrutiny
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)
http://online.wsj.com/article/
