Politics

Fauci’s Retirement Package Will Cost Taxpayers Over $350,000 Per Year – Highest In Federal History

By Adam Andrzejewski for RealClearPolicy

When Dr. Fauci decides to retire, his federal pension and post-employment benefits will cost taxpayers over $350,000 each year. Dr. Fauci is already the highest paid federal employee, and soon his retirement package will exceed most working Americans’ salaries.

Federal employees with Fauci’s length of service can retire to earn “80 percent of [their] high-3 average salary, plus credit for [their] sick leave,” according to the U.S. Office of Personnel Management. The last three published years of his salary — 2018: $399,625; 2019: $417,608; and 2020: $434,312 —can be used calculate his potential retirement earnings.

RELATED: Rand Paul Calls For Fauci’s Head – Says He Should Be Fired For ‘Malpractice’

If he’d left federal service at the end of FY2020, figuring 80% of his highest three-year average, would mean a federal pension of $333,745 a year, plus cost-of-living increases (($1,251,545/3) x 80% = $333,745). However, Fauci’s unpublished current salary is at least what it was in 2020. Therefore, his retirement pay would be closer to $347,500 a year. (($1,302,936/3) x 80%).

Additionally, Dr. Fauci is likely eligible for an annuity, paid out by the federal government. After serving 10 years, federal employees are eligible for “2 percent of [their] high-3 average salary for each year.”

Dr. Fauci has surpassed the 10-year-minimum work requirement, and if he retired last year he could have added an extra $8,344 a year (($1,251,545/3) x 2% = $8,344). If he leaves at the end of this month, that figure is likely closer to $8,575 a year in annuity payments, assuming his salary did not go down in 2021.

All this adds up to over $350,000 in total yearly compensation starting at nearly $1,000 per day and over $1 million during his first three-years of retirement.
Syndicated with permission from RealClearWire.

The #WasteOfTheDay is presented by the forensic auditors at OpenTheBooks.com.

RealClearWire

Recent Posts

Videos Surface Showing Parents Pleading With Cops To Take Down Uvalde Shooter While He Was Inside Classroom For Up To An Hour

Anger is mounting as videos have surfaced showing police officers fighting with parents who were…

17 hours ago

New Poll: Plurality Of Americans Say Stricter Gun Laws Would Not Have Prevented Buffalo Shooting

As America reels from two mass shootings within 10 days, the debate over the nation's…

17 hours ago

Texas Launches Operations Center To Oversee 15-Agency Effort To Thwart Illegal Immigration

By Bethany Blankley (The Center Square) Gov. Greg Abbott is launching the Joint Border Security…

18 hours ago

Highway Trust Fund Loses Average of $18B Per Year

By Adam Andrzejewski for RealClearPolicy The Highway Trust Fund that finances most federal government spending…

19 hours ago

Overlooked War Heroes, Military Dogs Remind Us All What Loyalty And Love Truly Mean

Earlier this week, I read an article about a Russian war dog who allegedly "switched…

19 hours ago

Female Veterans And PTSD: Forgotten Victims?

As we honor and remember those who made the ultimate sacrifice for our nation on…

20 hours ago