Stimulus Czar Criticized For Pension Pay

The man chosen by Gov. Deval Patrick to oversee the state's disbursement of federal stimulus money has received over $400,000 in enhanced state pension payments under a special law that has led to calls for retirement reforms.

Treasury spokeswoman Francy Ronayne confirmed Thursday that developer Jeffrey Simon bought credit for five years of Ipswich School Committee service - during which he originally had not contributed to the retirement system - so he could accumulate over 20 years of collective state work experience.

The extra time allowed Simon to start collecting $29,000 annually in 1997, when he was 47 years old. The payments have since grown to $32,000, and were credited back to when Simon was 45.

Retirement records show that if Simon had not been credited for the extra time, he would have received only $14,000 per year, starting when he reached age 55.

A Patrick spokesman said Simon disclosed his pension before his appointment Wednesday and is "imminently qualified" to serve the state.