Longtime Oyster Bay supervisor files for pension

Longtime Oyster Bay Town Supervisor John Venditto has filed to receive his pension benefits despite narrowly being re-elected last year. Under state law, elected officials

Under state law, elected officials are allowed to file paperwork to receive their pension benefits, even while still holding office.

Under state law, elected officials are allowed to file paperwork to receive their pension benefits, even while still holding office. (1/7/16)

OYSTER BAY - Longtime Oyster Bay Town Supervisor John Venditto has filed to receive his pension benefits despite narrowly being re-elected last year.

Under state law, elected officials are allowed to file paperwork to receive their pension benefits, even while still holding office.

Even though Venditto filed to receive his benefits, he says he won't "double-dip" the system. In fact, he says he will save the town money.

Venditto's gross salary from the town is $140,000 this year. He says he will deduct the more than $79,000 he is due from his state pension, leaving the town to pay him just the remaining $60,000.

In a statement he added, "Additionally, because I am now retired, the Town will no longer have to pay $25,000 annually to the retirement system on my behalf. Therefore, the total savings to our residents is approximately $105,000."  

Many longtime elected officials are eligible to receive their pension benefits while serving in office once they reach the age of 65. Under state law, elected officials who were elected after 1995 are not able to do so.

 

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