As reports emerge that Dr. Anthony Fauci is making plans for his looming retirement, details about his estimated pension have provoked outrage.
Fauci’s “unprecedented golden parachute” will be over $400,000 per year, according to a nonprofit transparency group “Open The Books.”
The watchdog revealed that Fauci’s pension should top the annual salary that the President of the United States receives.
According to “Open The Books,” Fauci’s first-year pension payout will total $414,000, which is more than President Joe Biden’s $400,000 salary.
“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,” Adam Andrzejewski, the founder and CEO of “Open The Books,” 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.”
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
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 earning $434,312 in 2020.
For both years, Fauci was the top-paid federal employee, outearning “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.
