Maturo’s New Scheme To Get More Money From East Haven Taxpayers

Maturo’s New Scheme To Get More Money From East Haven Taxpayers

Mayor Joseph Maturo is now seeking to have the East Haven Town Council’s approval to change the Mayor’s retirement plan to now include the lucrative plan that our Police and Fire Department receive at the next Town Council Meeting on Tuesday August 7,, 2018 at 7pm. This after your first payments for your taxes were due on July 31, 2018!

The plan known as “MERS” will allow the Mayor to dispose of his current plan, a 457B which allows him to contribute up to $11,000 per year and have the Town match it at 100% giving the Mayor $22,000 per year in retirement at a minimum and covert it to a plan that will allow him to collect on his highest pay for the past 3 years as an average.

Before Maturo became Mayor he was a career firefighter and retired on injury. His retirement at the East Haven Fire Department was under the MERS plan. His average salary for his best three years is assumed in the $50K range. Meaning that the highest Maturo could make off that retirement is approximately $50k directly from the plan.

Currently Mayor Joe Maturo is collecting $116K per year after the East Haven Town Council two years ago voted to increase the salary from $85K to $116K to keep in line with other Towns of similar size. Under the change, instead of Joe Maturo collecting $22K from his Mayoral pension plan, half of which is his own contribution, he would receive a guarantee of $116k for the rest of his natural life with ZERO contribution from him. It would 100% funded by the tax payers of the Town of East Haven.

As we remember, Mayor Joseph Maturo took his last pension fight all the way to the Connecticut Supreme Court and lost that decision when he was trying to draw on his disability pension in addition to his salary. The State of Connecticut said NO and told career politicians that double dipping would not be permitted any longer.

This latest ploy by Maturo is another way around the system so he and potentially other political figures within our own Town could also seek greater rewards. Think about this East Haven and think real hard. We don’t know all the details BUT imagine if Maturo can collect on his Disability Plan ($50,000), his 457b Plan ($22,000 average), and this new plan of his best 3 years ($116,000). At worst case, the tax payers of East Haven could be on the hook to pay Joe Maturo close to $188,000 per year! Of course that would be Joe’s best case scenario after he retires to his beloved Florida.

Joe Maturo and the East Haven Town Council should be aware that we are all watching everything you are doing and will hold you all accountable.