Indiana School Superintendent Terry Thompson Gets $1M Retirement

Wayne Township in Marion County, Indiana voted 4 years ago to approve a $1 million retirement

Terry Thompson

Terry Thompson

package for the popular school superintendent and for the position of  “superintendent emeritus.”  Now the Wayne Township School Board is upset and trying to find a way to nullify some of the provisions of the 2007 plan, and are asking for his resignation from the “emeritus postion, which he holds after retirement. He has  held the “emeritus” position for 5 months, and retired in December 2010.

This report says that the details of the plan were “tucked  into lengthy documents.” Along with the $800,000 severance, Thompson will receive “a $15,000 stipend” to fund retirement planning and other perks that take the total to $1 million. position.

From IndyStar:

In 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…

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.

From Indy.com:

The contract showed Thompson received more than $817,000 in lump sum severance payouts, including annual base pay of $225,000 as well as accrued vacation and sick pay and other considerations, all paid when he retired last month.

The school’s district attorney says he doesn’t think the Board understood the terms they voted for.

The superintendent emeritus position, which included advising his successor, would have paid Thompson an additional $202,000 over the 150 days specified in the contract — and pushed the total retirement package to more than $1 million.

The school’s attorney general said he didn’t think the School Board understood what they were approving when they voted for the retirement package.

  • FC BREWER

    HE TOOK LESSONS FROM BUSH JR. CHENEY AND OUR GOV. DANIELS.
    SCHOOL BOARD SHOULD BE FIRED HIS CONTRACT ANAL.

  • FC BREWER

    FC BREWER
    HE TOOK LESSONS FROM BUSH JR. CHENEY AND OUR GOV. DANIELS.
    SCHOOL BOARD SHOULD BE FIRED HIS CONTRACT ANAL.