Former Toms River School Superintendent Loses Pension
A former school superintendent in New Jersey has lost his $155,000 pension.
A state pension board unanimously revoked Michael Ritacco's pension, calling his actions a "complete betrayal of trust."
The former superintendent of the Toms River school system is serving an 11-year prison sentence in a case that a judge called the worst case of public corruption he's ever seen.
Ritacco pleaded guilty to tax evasion and public corruption, admitting accepting kickbacks totaling $2 million or more for giving insurance brokers inflated commissions for school board business.
The Asbury Park Press (http://on.app.com/1eT3iLJ ) reports his lawyer argued that Ritacco had already been punished, bringing shame to his family and his marriage ending in divorce.
The U.S. Attorney's Office also argued he should receive some pension because he owes $4.3 in restitution.
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