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

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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.

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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 However, Fauci’s unpublished current salary is at least what it was in 2020.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.

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