“Unprecedented Golden Parachute”: Fauci’s Estimated Pension Causes Outrage, Will Pay Him More Than Joe Biden’s Annual Salary Claims Nonprofit Watchdog
The bloated bureaucracy strikes again and it very well may be the ruin of our great nation. According to a nonprofit transparency group, Dr. Anthony Fauci’s estimated retirement pension will be over $400,000 and should top the annual salary that the President of the United States makes.
According to Open The Books, Fauci’s first year pension payout will total $414,000 which is more than the $400,000 brought in by President Joe Biden.
“Dr. Fauci has been the highest-paid federal employee for years, and now we know that even in retirement his pay will be history-making,” OpenTheBooks.com Founder & CEO Adam Andrzejewski told Fox News.
“With the flexibility to spend his days as he wishes, Fauci will rake in more than the leader of the free world earns in a year. There’s seemingly no limit to the money taxpayers will have to spend on him in perpetuity.”
From Open The Books:
Today, Fauci earns a federal salary of $480,654 per year. However, by 2024, Fauci will likely be making $530,000 in salary – an increase of nearly $200,000 since 2014.
Therefore, we estimate that Fauci’s first year pension payout will exceed $414,000 – more than the salary for the President of the United States ($400,000).
In 2021, in my then-column at Forbes, we first reported that Fauci was the most highly compensated federal employee making $417,608 (2019, last available salary) and then earned $434,312 in 2020. For both years, Fauci was the top-paid federal employee, out earning “the president, four star generals, and roughly 4.3 million of his colleagues.”
Fauci’s salary then increased to $456,028 (2021) and he makes $480,654 today. We estimate he’ll make $504,686 (2023) and then $529,921 (2024).
So, in December 2021 (published at Forbes), we estimated that Fauci’s pension would exceed $355,000 per year—the most lucrative in federal history. However, Fauci didn’t retire and now the numbers are a lot larger.
Bureaucrats who have worked in government as long as Fauci are able to retire on the vast majority of their annual earnings.
The Office of Personnel Management calculates it by taking 80% of an average of the bureaucrat’s three highest-paid years of service, and also letting the worker cash in any unused sick leave.
Employees of Fauci’s tenure also get an additional 2% annuity payment every year.
Using that formula, by 2025, we projected Fauci’s retirement package would be in excess of $414,000 per year — plus annual cost-of-living-increases.
Fallon on Fauci saying he'll retire: "Everyone" is hoping Biden announces his retirement next pic.twitter.com/U9ooyB0LKq
— Tom Elliott (@tomselliott) July 19, 2022
JUST IN: Fauci to retire before the end of Biden’s term https://t.co/aBZFcHN4xG pic.twitter.com/jYRN40QumT
— The Hill (@thehill) July 18, 2022