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n 2007, the Wayne Township School Board and then-Superintendent Terry Thompson agreed to a renegotiated contract that provided a generous retirement package for whenever Thompson decided to step down.
But it wasn't until this month that board members realized just how lucrative that deal was, to the tune of more than $1 million.
Thompson, 64, who retired in December after 15 years with the district, already has received more than $800,000 of his retirement deal, which included a year's base pay at more than $225,000, as well as contract provisions that kicked in hundreds of thousands more.
But that's not all.
The contract also created the position of superintendent emeritus -- a position that has been paying Thompson $1,352 a day since his retirement to advise his successor, among other duties. That amount, over the 150 days laid out in the contract, would pay him more than $200,000 -- bringing the total to more than $1 million.
Wayne superintendent's $1M retirement package creates storm | The Indianapolis Star | IndyStar.com
Nice work if you can get it, eh?
My last teaching post in the greater Boston area (1984) I made $18,000 a year for a 60 hour workweek.
Think I was overpaid?
n 2007, the Wayne Township School Board and then-Superintendent Terry Thompson agreed to a renegotiated contract that provided a generous retirement package for whenever Thompson decided to step down.
But it wasn't until this month that board members realized just how lucrative that deal was, to the tune of more than $1 million.
Thompson, 64, who retired in December after 15 years with the district, already has received more than $800,000 of his retirement deal, which included a year's base pay at more than $225,000, as well as contract provisions that kicked in hundreds of thousands more.
But that's not all.
The contract also created the position of superintendent emeritus -- a position that has been paying Thompson $1,352 a day since his retirement to advise his successor, among other duties. That amount, over the 150 days laid out in the contract, would pay him more than $200,000 -- bringing the total to more than $1 million.
Wayne superintendent's $1M retirement package creates storm | The Indianapolis Star | IndyStar.com
This is precisely why the U.S. spends more money on public education per student than any other nation in the world and why we get the least bang for our buck. When politicians talk about investing in education and needing more money for the schools, what they are really saying is more money for administrators and the greedy teachers' unions.
Nice work if you can get it, eh?
My last teaching post in the greater Boston area (1984) I made $18,000 a year for a 60 hour workweek.
Think I was overpaid?
n 2007, the Wayne Township School Board and then-Superintendent Terry Thompson agreed to a renegotiated contract that provided a generous retirement package for whenever Thompson decided to step down.
But it wasn't until this month that board members realized just how lucrative that deal was, to the tune of more than $1 million.
Thompson, 64, who retired in December after 15 years with the district, already has received more than $800,000 of his retirement deal, which included a year's base pay at more than $225,000, as well as contract provisions that kicked in hundreds of thousands more.
But that's not all.
The contract also created the position of superintendent emeritus -- a position that has been paying Thompson $1,352 a day since his retirement to advise his successor, among other duties. That amount, over the 150 days laid out in the contract, would pay him more than $200,000 -- bringing the total to more than $1 million.
Wayne superintendent's $1M retirement package creates storm | The Indianapolis Star | IndyStar.com
This is precisely why the U.S. spends more money on public education per student than any other nation in the world and why we get the least bang for our buck. When politicians talk about investing in education and needing more money for the schools, what they are really saying is more money for administrators and the greedy teachers' unions.
Umm this is a CEO kind of thing Not a union thing.
n 2007, the Wayne Township School Board and then-Superintendent Terry Thompson agreed to a renegotiated contract that provided a generous retirement package for whenever Thompson decided to step down.
But it wasn't until this month that board members realized just how lucrative that deal was, to the tune of more than $1 million.
Thompson, 64, who retired in December after 15 years with the district, already has received more than $800,000 of his retirement deal, which included a year's base pay at more than $225,000, as well as contract provisions that kicked in hundreds of thousands more.
But that's not all.
The contract also created the position of superintendent emeritus -- a position that has been paying Thompson $1,352 a day since his retirement to advise his successor, among other duties. That amount, over the 150 days laid out in the contract, would pay him more than $200,000 -- bringing the total to more than $1 million.
Wayne superintendent's $1M retirement package creates storm | The Indianapolis Star | IndyStar.com
This is precisely why the U.S. spends more money on public education per student than any other nation in the world and why we get the least bang for our buck. When politicians talk about investing in education and needing more money for the schools, what they are really saying is more money for administrators and the greedy teachers' unions.
Nice work if you can get it, eh?
My last teaching post in the greater Boston area (1984) I made $18,000 a year for a 60 hour workweek.
Think I was overpaid?
Of course you were, you did not vote for Palin did you?
n 2007, the Wayne Township School Board and then-Superintendent Terry Thompson agreed to a renegotiated contract that provided a generous retirement package for whenever Thompson decided to step down.
But it wasn't until this month that board members realized just how lucrative that deal was, to the tune of more than $1 million.
Thompson, 64, who retired in December after 15 years with the district, already has received more than $800,000 of his retirement deal, which included a year's base pay at more than $225,000, as well as contract provisions that kicked in hundreds of thousands more.
But that's not all.
The contract also created the position of superintendent emeritus -- a position that has been paying Thompson $1,352 a day since his retirement to advise his successor, among other duties. That amount, over the 150 days laid out in the contract, would pay him more than $200,000 -- bringing the total to more than $1 million.
Wayne superintendent's $1M retirement package creates storm | The Indianapolis Star | IndyStar.com
This is precisely why the U.S. spends more money on public education per student than any other nation in the world and why we get the least bang for our buck. When politicians talk about investing in education and needing more money for the schools, what they are really saying is more money for administrators and the greedy teachers' unions.
First let's wade through the habitually fuzzy math, and add a few facts:
1. With 15 years experience as Superintendent, the guy probably only worked 150 days a year BEFORE he retired, so getting $200,000 for consulting during his first year of "retirement," really means he is not retired that year.
2. $220,000 is not a huge salary for a metropolitan school superintendent. It is not unusual for those working in education to receive 100% of their salary after working within the same STATE for 30+ years. Thompson worked 42 years in education
3. $1,000,000 -220,000-200,000 = $580,000, the guy's ACTUAL BONUS
Outcry Over $500K Payout Prompts Call For Resignation
This is precisely why the U.S. spends more money on public education per student than any other nation in the world and why we get the least bang for our buck. When politicians talk about investing in education and needing more money for the schools, what they are really saying is more money for administrators and the greedy teachers' unions.
Umm this is a CEO kind of thing Not a union thing.
I didn't say it was.
Umm this is a CEO kind of thing Not a union thing.
I didn't say it was.
You threw unions in the statement right along with it.
"what they are really saying is more money for administrators and the greedy teachers' unions."
This is precisely why the U.S. spends more money on public education per student than any other nation in the world and why we get the least bang for our buck. When politicians talk about investing in education and needing more money for the schools, what they are really saying is more money for administrators and the greedy teachers' unions.
First let's wade through the habitually fuzzy math, and add a few facts:
1. With 15 years experience as Superintendent, the guy probably only worked 150 days a year BEFORE he retired, so getting $200,000 for consulting during his first year of "retirement," really means he is not retired that year.
2. $220,000 is not a huge salary for a metropolitan school superintendent. It is not unusual for those working in education to receive 100% of their salary after working within the same STATE for 30+ years. Thompson worked 42 years in education
3. $1,000,000 -220,000-200,000 = $580,000, the guy's ACTUAL BONUS
Outcry Over $500K Payout Prompts Call For Resignation
Right there is the problem, IMO. While I'm not for going back to the days educators were paid poverty wages, $225k seems like an awful lot of money when the median household income is only about $52k.
(That's the 2008 figure, the most recent I could find from a reliable source: USA QuickFacts from the US Census Bureau )
I didn't say it was.
You threw unions in the statement right along with it.
"what they are really saying is more money for administrators and the greedy teachers' unions."
The superintendent is an administrator. Administrators and teachers unions are where all of this extra funding they "need" always ends up going to.
You threw unions in the statement right along with it.
"what they are really saying is more money for administrators and the greedy teachers' unions."
The superintendent is an administrator. Administrators and teachers unions are where all of this extra funding they "need" always ends up going to.
Here is the Budget for the Wayne Township School System
Operation Costs are about $130 million/yr
General Administrative costs are $1.3 million/yr, or about 1% of the operational costs of the district.
The superintendent is an administrator. Administrators and teachers unions are where all of this extra funding they "need" always ends up going to.
Here is the Budget for the Wayne Township School System
Operation Costs are about $130 million/yr
General Administrative costs are $1.3 million/yr, or about 1% of the operational costs of the district.
What does that have to do with my comment?
