New Jersey residents who are customers of Citibank can now see how just how much one of the bank’s top executives brings home every year. The attorneys of Peter Orszag, who began with the company in January of 2011, filed court documents on Monday, March 10th in anticipation for his child support hearing set for Wednesday. The documents showed that Orszag is expected to earn almost $4 million in 2014 through his employment with Citibank.
Orszag is involved in a child support dispute with his ex-wife whom he married in 1997. They divorced in 2006 after having had two children. She is reportedly asking for a modification of support payments because Orszag had a dramatic increase in income when he joined Citibank and is seeking a monthly support payment of $25,000.
The 45-year-old executive has attempted to keep his financial records out of the public eye. Besides his position at Citibank, he has held several government offices including serving as head of the Office of Management and Budget from January 2009 through July 2010. Several organizations, including the Reporters Committee for Freedom of the Press, filed a motion saying his financial information should not be sealed. A judge ruled in February 2014 in favor of the motion.
When it comes to child support payments, it is important for parents to come up with a fair amount. For this to happen, all of the financial information needs to be considered. This includes the children’s expenses as well as the income of all involved. In such an event, a divorce attorney can help a client reach an agreement about support issues without having to go to trial.
Source: Politico, “Peter Orszag riches public in child-support trial“, Lucy McCalmont, March 12, 2014