"It’s the largest federal retirement package in history, an unprecedented golden parachute made possible by career-end salary spiking." That's what a new report from Open The Books concludes about the retirement pension they estimate Dr. Anthony Fauci will collect if he indeed retires at the close of Biden's first term.
Their estimate, based on Dr. Fauci's salary data along with publicly available retirement pension statistics from the U.S. government, finds that man who directs a sub-department of Health and Human Services will be bringing in $414,667 from U.S. taxpayers in retirement, more than the $400,000 salary supposed leader of the free world President Joe Biden receives now.
Currently, Fauci's salary is a not-insignificant $480,654. By the end of Biden's first term, Open The Books estimates that Fauci's career-end salary will likely top out at $530,000 — more than $200,000 higher than it was in 2014.
Federal employees like Dr. Fauci — supposedly public servants — who have stuck around in government for years and years are entitled to retirement pensions somewhat similar to what private sector employment has previously offered. The amount each employee will retire on is determined by OPM — the Office of Personnel Management — by looking at the retiree's three highest-paid years and doling out 80 percent of that, plus cost of living increases and an annual annuity.
Here's how Open The Books Founder & CEO Adam Andrzejewski arrived at yet another staggering payday for Dr. Fauci based on the government's methodology for deciding pensions and what's known about Fauci's current taxpayer-funded salary:
- To project what Dr. Fauci's retirement will be by the end of his career, we have to fill in a couple of blanks. We don't know what his salary will be in 2024, but we can make a strong estimate based on the pace of his recent salary increases.
- Given that his salary grew 5% from 2020 to 2021, and 5.4% from 2021 to 2022, we can conservatively presume continued bumps of at least 5%.
- Under that model, his estimated retirement at the end of 2022 would be worth $365,598 plus his 2% annuity payment of $9,613. That’s an estimated grand total of $375,211 per year.
- If he presses on through the end of 2023, the estimated grand total swells to $394,457.
- As President Biden’s first term comes to a wrap just after the end of the 2024 fiscal year, Fauci’s retirement makes it past the Oval Office milestone. He would stand to retire with a $414,667 annual payout.
- We called his post-2021 retirement package an unprecedented golden parachute. Now it's even bigger. Taxpayers, of course, helped fund the Fauci retirement pension and we guarantee it too.
So, while many Americans were excited to hear that Dr. Fauci's retirement may be drawing near, your tax dollars — and a whole lot of them — will continue to bankroll Fauci's lifestyle for the rest of his days.