Meet the Governor’s Million-Dollar Triple-Dipper
CHRISTIE’S ‘RETIRED’ BUDGET GURU POCKETS $1M IN PUBLIC PAYOUTS
One of New Jersey Gov. Chris Christie’s key advisers has received three golden parachutes from taxpayers during the past nine years.
Cabinet Secretary Louis C. Goetting IV raked home $1.1 million from two severance payouts and an early retirement deal. In addition, Goetting collects $219,000 a year from the state – a $130,000 salary plus $89,000 in pension payments.
Christie hired Goetting (pronounced “getting”) in 2010 as a budget guru to help trim the cost of government. But Goetting resembles a problem, not a solution, according to a New Jersey Watchdog analysis of his employment history. Prior to joining Christie’s senior staff:
Goetting received $190,000 plus perks when forced to resign as executive vice president of Brookdale Community College in Monmouth County, effective June 2009.
Goetting collected $180,000 in severance pay after he resigned as a vice president at the University of Medicine and Dentistry of New Jersey, effective Jan. 1, 2003,
That same day, Goetting “retired” as a state employee at age 51, taking advantage of a state Early Retirement Incentive Program. From that pension, he receives 89,000 a year.
So far, Goetting has triple-dipped roughly $1.1 million from public coffers. He has collected $734,000 in early retirement checks from the state in addition to $370,000 in payouts from Brookdale and UMDNJ. And that doesn’t count his pay from the governor’s office.
Goetting’s good fortune illustrates weaknesses in Christie’s pension reforms, which the governor has called his “biggest governmental victory.” In addition, Christie has publicly opposed severance deals similar to the ones Goetting has gotten.
For the full story, click here or visit www.njwatchdog.org. New Jersey Watchdog’s Mark Lagerkvist can be contacted at Mark@Lagerkvist.net.