Former NYC Mayor Rudy Giuliani, aged 79, expresses remorse for not securing a government pension after a $148 million court ruling and unpaid legal bills. Records from the Empire Center for Public Policy and Giuliani’s disclosures reveal his failure to apply for pension benefits, a departure from the norm for ex-mayors.
Eligible at 62 after two mayoral terms ending in 2001, Giuliani could have received approximately $26,000 annually, totaling around $442,000 over 17 years. Giuliani cited a desire to give back to the city but admitted uncertainty about claiming the pension.
A former high-ranking city official remarked on Giuliani’s financial strategy, indicating that the prospective pension payments, perhaps overlooked by Giuliani in the past, could now prove significantly beneficial to him.
“This might have seemed like chump change to someone like him who left City Hall with multi-million-dollar book deals, but I bet he wishes he had [pension payments] now. In his situation, every penny helps.”
While Giuliani chose not to pursue a pension, he did contribute to the city’s deferred compensation plan, listing it as an asset valued between $50,000 and $100,000 during his 2007 presidential campaign.
In contrast, ex-Mayor Bill de Blasio receives a $113,131 annual pension after two decades in various elected roles. Records from the New York City Employees’ Retirement System reveal that the late Mayor David Dinkins received $59,657 annually, and former Mayor Ed Koch received $49,065 annually until his passing in 2013. Billionaire Michael Bloomberg, mayor from 2002 to 2013, declined both salary and pension during his tenure.
Once hailed as “America’s Mayor,” Giuliani now grapples with a severe financial predicament. Manhattan federal court documents reveal debts totaling an estimated $153 million against assets valued at up to $10 million. Filing for bankruptcy on December 21, this move followed a court order mandating Giuliani to pay $148 million in damages to two former Georgia election workers.Accusing Giuliani, a legal representative for former President Donald Trump, of falsely implicating them in voter fraud during the 2020 election, these workers prompted the bankruptcy. Giuliani’s attorney, Joe Sibley, characterizes the ruling as a “civil equivalent of the death penalty,” cautioning that an unsuccessful appeal “will be the end of Mr. Giuliani.”
