The 3 years she spent in office is directly related to her retirement. I believe her salary was somewhere around $150K in her previous position. If you look back at her 37 previous years, she contributed maybe 10% of her earnings...so let's assume she contributed $1.5MM to the retirement system. Her 3 years as President put her average salary just around $375K, and I believer her retirement percentage is about 91%. So she'll be drawing a retirement income of roughly $340K per year. So what took her 40 years to contribute, she will drawn down in just over 4 years. This was all about a sweetheart deal from the Board to her as a going away present. If she had retired 3 years ago at a salary of $150K, her retirement income would have been about $136K, for a difference of $200K per year. Assuming maybe a 20 year retirement, this represents a $4MM "gift" from the YSU Board of Trustees to her, payable by the current and future state school employees. Oh yeah...and YSU paid $170,000 to find her for this position. I can't believe there isn't a criminal investigation into this. She should be ashamed of herself for bailing out at the earliest possible moment to collect her embarrassing retirement income...a retirement income that is twice what her highest pay was prior to the appointment as President. Talk about the fleecing of a state...this has got to be one of the worst examples of gaming the system. I can't wait to see who they pick next.
Here is some quick math: Poland has a $19M budget. Probably 80% of that is salaries and benefits, and maybe 40% of that number is benefits. Having the employees pay 20% of their healthcare would net the district just over 900K per year. Remind me again why the district so desperately needs an extra $2M of our tax dollars? Looks like there is more room to cut in the district. As mentioned in the article, the cuts are working, and the deficit is shrinking...just a little more to do and you can balance your budget without an increase...
Vote NO until they raise the employee contribution to 20%. I'm not paying an extra $600 per year just to keep their healthcare premium so low.
Why do employees only pay 5% of the premium? Here is some quick math: Poland has a $19M budget. Probably 80% of that is salaries and benefits, and maybe 40% of that number is benefits. Having the employees pay 20% of their healthcare would net the district just over 900K per year. Remind me again why the district so desperately needs an extra $2M of our tax dollars? Looks like there is more room to cut in the district. As mentioned in the article, the cuts are working, and the deficit is shrinking...just a little more to do and you can balance your budget without an increase...Vote NO until they raise the employee contribution to 20%.
Why do the employees only pay 5% toward their healthcare? The standard in other schools and in the corporate world is more like 20% or higher. As the treasurer mentioned, the 5-year forecast will show a much lower deficit than projected in May, meaning the cuts they implemented are working. Vote NO on the levy until Poland School Board realizes they still have more that they can cut.
YSU gears up for presidential search
The 3 years she spent in office is directly related to her retirement. I believe her salary was somewhere around $150K in her previous position. If you look back at her 37 previous years, she contributed maybe 10% of her earnings...so let's assume she contributed $1.5MM to the retirement system. Her 3 years as President put her average salary just around $375K, and I believer her retirement percentage is about 91%. So she'll be drawing a retirement income of roughly $340K per year. So what took her 40 years to contribute, she will drawn down in just over 4 years. This was all about a sweetheart deal from the Board to her as a going away present. If she had retired 3 years ago at a salary of $150K, her retirement income would have been about $136K, for a difference of $200K per year. Assuming maybe a 20 year retirement, this represents a $4MM "gift" from the YSU Board of Trustees to her, payable by the current and future state school employees. Oh yeah...and YSU paid $170,000 to find her for this position. I can't believe there isn't a criminal investigation into this. She should be ashamed of herself for bailing out at the earliest possible moment to collect her embarrassing retirement income...a retirement income that is twice what her highest pay was prior to the appointment as President. Talk about the fleecing of a state...this has got to be one of the worst examples of gaming the system. I can't wait to see who they pick next.
January 22, 2013 at 5:34 p.m. permalink suggest removal
Poland officials hope 4th try succeeds
Here is some quick math: Poland has a $19M budget. Probably 80% of that is salaries and benefits, and maybe 40% of that number is benefits. Having the employees pay 20% of their healthcare would net the district just over 900K per year. Remind me again why the district so desperately needs an extra $2M of our tax dollars? Looks like there is more room to cut in the district. As mentioned in the article, the cuts are working, and the deficit is shrinking...just a little more to do and you can balance your budget without an increase...
Vote NO until they raise the employee contribution to 20%. I'm not paying an extra $600 per year just to keep their healthcare premium so low.
October 28, 2012 at 12:41 p.m. permalink suggest removal
Poland Schools
Why do employees only pay 5% of the premium? Here is some quick math: Poland has a $19M budget. Probably 80% of that is salaries and benefits, and maybe 40% of that number is benefits. Having the employees pay 20% of their healthcare would net the district just over 900K per year. Remind me again why the district so desperately needs an extra $2M of our tax dollars? Looks like there is more room to cut in the district. As mentioned in the article, the cuts are working, and the deficit is shrinking...just a little more to do and you can balance your budget without an increase...Vote NO until they raise the employee contribution to 20%.
October 28, 2012 at 10:46 a.m. permalink suggest removal
Poland officials hope 4th try succeeds
Why do the employees only pay 5% toward their healthcare? The standard in other schools and in the corporate world is more like 20% or higher. As the treasurer mentioned, the 5-year forecast will show a much lower deficit than projected in May, meaning the cuts they implemented are working. Vote NO on the levy until Poland School Board realizes they still have more that they can cut.
October 28, 2012 at 10:15 a.m. permalink suggest removal