Bloomberg’s Deferred Compensation (of 93 Cents)

Mayor Michael R. Bloomberg said last week that he paid the highest tax rate on his personal income, but his boast (or lament) does not exactly apply to his salary from the city.

Even before he was elected, Mr. Bloomberg, a billionaire, declared, “If I were mayor, I wouldn’t take more than $1 a year from the city.” Every fall since 2002, the city’s Office of Payroll Administration sends him a $1 check — $224,999 less than he is now legally entitled to collect as mayor.

Seven cents is deducted annually for federal Social Security and Medicare contributions.

Think the mayor isn’t even worth $1 a year? He may not, either. Stu Loeser, his chief spokesman, said the 10 annual checks had never been cashed.

Why bother to produce the checks at all?

“He pledged a dollar a year, spontaneously, when running in 2001, and then he spontaneously decided not to cash them,” Mr. Loeser said. “He could have picked any amount, including nothing.”

Which is precisely what his sister, Marjorie Tiven, makes as the city’s chief of protocol and liaison to the United Nations.

Why not at least $1? Because, Mr. Loeser said, “he’s not giving a family member a paying job, not even for a dollar.”

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