Rewarding Failure

Stan Mack’s golden parachute has now been upgraded to platinum. The Sun-Post breaks down the booty “Captain Mack Sparrow” will receive:

Robbinsdale District 281 Superintendent Stan Mack will be paid $215,456 in severance benefits, plus payment of his health and dental bills for the next seven years, until he reaches age 65.

After nine years as superintendent, Mack, 58, announced in October 2008 his intention to resign, effective June 30, 2009.

The superintendent has accumulated 200 days of unused leave days, for which he will be paid $652.90 per day, or a total of $130,579.

Mack also will receive separation pay equal to half his annual base salary of $169,753, so he is eligible to receive $84,877.

The superintendent’s contract also specifies that for each year of employment, the school district must purchase one year of health, hospitalization and dental insurance coverage for the superintendent and his dependents, following retirement, up to age 65.

According to Stephanie Crosby, District 281’s executive director of human resources, Mack selected the Preferred One co-pay family plan for 2008-09 for which the premiums equal $29,220.

“The cost of insurance in coming years will be dependent on the cost of insurance for the district, the types of insurance plans offered by the district, and the status of his children and wife as dependents,” Crosby said. “He may continue with family plan insurance, or elect single or single-plus-one coverage at some time in the future.”

That health insurance benefit is $29,220 per year, folks. It is a pirate’s life for Mack, and he’s probably laughing all the way to the bank.

One Response to “Rewarding Failure”

  1. give2attain Says:

    Any news on Dr Sicoli’s contract yet. Hopefully the board was a bit more conservative this time.

    The most interesting part of your post was that premiums could be ~$29,000/yr…. I have a good family health and dental plan at work, and I think the company and I pay ~$12,000 to $14,000 per year. Seems like Minnesota’s schools and state employees should be working to buy in bulk…

    Just wondering though, I thought the district was self insured. So if Stan and the Mrs. stay healthy, there should be little cost to the district ? What am I missing here?

    My company is self insured… They pay actual costs plus an administration fee to United Health. If employees take care of themselves it keeps the cost down.

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