Superintendent gets $1 million retirement package

[alp227]

Jonathan Turley reports that Wayne Township (Indiana) school superintendent Terry Thompson, who retired last December, received a $1 million retirement package in 2007. Turley calls it "another case of an excessive retirement package for a public employee" and comments: "The fact is that, unless there is a charge of fraud, this is not Thompson’s fault. He demanded a renegotiated contract and received it for his continued services. The problem is a board that signs contracts without reading the ultimate cost to the district."

With that million dollars he can happily live sheltered from angry parents in his community, many of whom probably can't even bring a dollar home every day.

[DrDan]

1. I love this part . . . .

"The contract also allow him to continue after retirement as “superintendent emeritus” and to receive $1,352 a day."

[DCKit]

2. There has got to be some way to blame this on teachers. nt

[FBaggins]

3. Could be a good idea.

I'm sure that there's more than one superintendent who does more than a million dollars worth of damage annually. We might save a ton by creating more such packages. :)

[proud2BlibKansan]

4. That's so true. LOL

[Recursion]

5. The $1k per day sounds crazy, but $1 million for an entire retirement package makes sense

The projected average social security + Medicare payout is something like $800K, which isn't much below that.