Rudy Giuliani Regrets Not Pursuing NYC Government Pension After Filing for Bankruptcy
Former New York City Mayor Rudy Giuliani, who filed for bankruptcy in the wake of a $148 million civil court ruling and faces a mountain of unpaid legal bills, said he now regrets not having the safety net of a government pension, RadarOnline.com has learned.
Giuliani is between $100 million to $500 million in debt and only possesses between $1 million to $10 million in assets.
According to city payroll records obtained by the taxpayer watchdog group Empire Center for Public Policy and his official disclosure filings, Giuliani failed to apply for pension benefits after leaving office.
Most recent New York City mayors receive pension checks after leaving office, but Giuliani, now 79, did not take advantage of this opportunity.
Had Giuliani applied for a pension, he would have been eligible for about $26,000 in annual payments after turning 62, which translates to approximately $442,000 over the last 17 years.
When asked why he never applied, Giuliani stated, "Giving back to the city I love. Although I would like to take it now." However, he admitted, "I don't know how to go about it."
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A former top city official remarked that Giuliani should have planned better for his future, even though he seemed financially set for life after his two terms as mayor.
The official stated, "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."
It is worth noting that Giuliani is also not receiving a federal pension for his six years as Manhattan's US Attorney and other government work. However, he did contribute to the city's deferred compensation plan during his time as mayor, valuing it as a $50,000 to $100,000 asset in his 2007 disclosure filings.
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In comparison, former Mayor Bill de Blasio currently collects a $113,131-a-year pension after serving two decades in elected office.
Former Mayor and Manhattan Borough President David Dinkins collected $59,657 yearly before his death in 2020, and former Mayor Ed Koch received $49,065 annually before his death in 2013.
On the other hand, former Mayor Michael Bloomberg, a billionaire, chose not to accept any pay or pension during his tenure from 2002 to 2013.
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Giuliani's financial situation has dramatically deteriorated in recent months.
Once hailed as "America's Mayor" for his leadership after the 9/11 attacks, Giuliani estimates owing $153 million while having assets of up to $10 million, according to Manhattan federal court filings.
He filed for bankruptcy on December 21, shortly after being ordered to pay $148 million in damages to two former Georgia election workers in a defamation lawsuit. Giuliani's attorney, Joe Sibley, has said that the ruling is "the civil equivalent of the death penalty" and "will be the end of Mr. Giuliani" if he fails to win an appeal.