Ex-Ed Commish Lucille Davy is now a Trustee of the State Board of Pharmacy. One of Corzine’s last-minute appointments, her new post will allow her to become vested in the state pension system, according to The Record:
Davy, for example, who was replaced as education chief on Tuesday, got a post on the state Board of Pharmacy. If she attends all its monthly meetings, she would earn enough of a stipend to stay in the pension system. Pensions are calculated based employees’ three highest salary years; her 2009 salary was $140,460.
The three-year appointment would enable her to stay part of the system long enough to be vested and eligible for yearly payouts of nearly $28,000 when the board term ends in 2013, according to the state formula and 2009 pension records.
