Wayne Township Schools Superintendent Terry Thompson received an over than $1 million retirement package in 2007, but the full value only came to public attention with his retirement this year.
Thompson, 64, retired in December and has already banked more than $800,000 of his retirement deal. He was being paid $225,000 annually. The contract also allow him to continue after retirement as “superintendent emeritus” and to receive $1,352 a day. That position has already yielded more than $200,000 in addition to a payment of $15,000 for “retirement planning.”
Board members insist that they really didn’t read the find print of the contract. Mary McDermott-Lang, the district’s spokeswoman, explained that the board members were unaware of the details when the signed the deal. A curious defense.
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.
Source: IndyStar