For Immediate Release:
NJ Lawmaker Has a Big Pension...Plus Two Public Paychecks!
MEET THE BIGGEST 'TRIPLE-DIPPER' IN THE NEW JERSEY STATEHOUSE: SEN. FRED MADDEN POCKETS $241,000 A YEAR IN PAY & PENSION
For New Jersey state Sen. Frederick Madden Jr., the path of public service also has been a road to personal wealth.
Madden collects more than $241,000 a year in public salaries plus retirement pay. He gets $49,000 as a legislator, a $106,983 as a police academy dean and an $85,272 annual pension as a State Police retiree.
Among the 15 legislators who draw state pensions and salaries, no one pockets more than the senator from the state's 4th Legislative District, which includes parts of Gloucester and Camden counties.
Since he "retired" at age 48 nearly a decade ago, Madden has cashed $770,156 in New Jersey retirement checks. He will get more than $2.5 million, if he lives until age 80 — his statistical average life expectancy.
"I've earned that..." said Madden. "You can make it sound like I'm getting something I don't deserve, and that's wrong."
For the complete New Jersey Watchdog investigative report and a list of double-dipping state lawmakers, click here – or visit www.njwatchdog.org.
