In light of his current financial woes—which include a monumental $148 million civil court judgment and a plethora of unpaid legal fees—former NYC mayor Rudy Giuliani recently voiced remorse about his failure to get a government pension. At 79 years old, Giuliani felt he had missed a golden opportunity by not applying for these perks, unlike many of his predecessors.
Unlike most mayors of New York City, Rudy Giuliani did not choose to accept a pension after his term ended, according to records obtained by the taxpayer watchdog group Empire Center for Public Policy and Giuliani’s official disclosure filings. After finishing his second term as mayor in 2001, Giuliani would have been eligible for about $26,000 per year in pension benefits after turning 62. This sum would have added up to about $442,000 over the last 17 years.
Giuliani, who is presently in the midst of financial difficulties, explained that his original goal in forgoing the pension was to give back to the city he loves when asked about his decision. He freely said that he wants the pension right now, but he doesn’t know how to get it.
In his analysis of Giuliani’s situation, a former high-ranking city official speculated that, during his affluent years after becoming mayor—a period that featured lucrative book deals—he probably undervalued the pension. According to the official, even a pension, which may seem like a little sum, would mean a lot to Giuliani right now.
During his six years in government service, including as US Attorney for Manhattan, Giuliani was not eligible for a federal pension. Nonetheless, as he was running for president in 2008, he did disclose in 2007 that he had contributed $50,000 to $100,000 to the city’s deferred compensation plan.
Bill de Blasio, Ed Koch, and the late David Dinkins were among the former mayors who reaped the benefits of their government pensions, in contrast. For example, De Blasio gets $113,131 a year, whereas Dinkins got $59,657 and Koch got $49,065 till they passed away.
During his tenure as mayor from 2002 to 2013, billionaire Michael Bloomberg declined both a salary and a pension.
The man formerly known as “America’s Mayor,” Rudy Giuliani, claimed in federal court records from Manhattan that he owed $153 million but had assets of only $10 million. He was forced to pay $148 million to two former Georgia election workers immediately after he filed for bankruptcy on December 21. During the 2020 presidential election, these people claimed that Rudy Giuliani, who is Trump’s lawyer, falsely accused them of being involved in voter fraud. The verdict, according to Joe Sibley, Giuliani’s attorney, is “the civil equivalent of the death penalty,” and it could seriously impact the financial stability of the man if the appeal is rejected.