Mayor Giuliani yesterday moved to limit the golden parachutes that enable top aides to bail out of government with hefty payouts — but he didn’t cut the cord entirely.
In an executive order, Giuliani amended a regulation that enabled top city officials to accumulate 228 days of unused sick leave and vacation time — and cash in that time when they leave office.
The crackdown came one month after the Daily News disclosed that Giuliani failed to limit the lucrative payouts even though he pledged reforms three years ago.
Under the April 1 executive order, top appointees will be allowed to accumulate vacation time amounting to no more than a half year’s pay.
Deputy Mayor Randy Mastro said the administration should get credit for cutting back on a practice that has cost thousands of dollars. For example, First Deputy Mayor Peter Powers left government with $14,627 in accumulated leave after 21/2 years in office, The News reported last month.
“It’s appropriate to have these kinds of restrictions,” Mastro said of the cutback.
Asked why Giuliani continued to let top aides cash out with a half year of unused vacation pay — which in some cases could total nearly $70,000 — Mastro said, “You have to work a number of years to accumulate” that much leave time.
The change took effect Tuesday and won’t apply to appointees who recently stepped down, including Deputy Mayor Fran Reiter and welfare adviser Richard Schwartz.
Original Story Date: 040597