Yesterday, we told you how much former superintendent Arlene Ackerman was owed in benefits under her contract, besides her $905,000 buyout.
Here’s what she’s actually getting in bennies, according to her buyout agreement:
- Through June 30, 2013, Ackerman gets health benefits, including medical, hospitalization, dental, vision and prescription drug coverage. (Though Ackerman’s attorney told the Daily News her health benefits are worth about $75,000, a school spokesman said he does not yet know their dollar value.) After June 30, 2013, she can buy health benefits at the School District’s retiree rate.
- The School District will pay the premium for a $500,000 life insurance policy (up to $6,000) through June 30, 2013.
- Ackerman gets to keep her cell phone and laptop (though she needs to pay the service charges on the phone).
- Also, though it is not in the buyout agreement, Ackerman is owed pay for unused vacation and sick time. She got 34 vacation days annually — and those could accumulate up to 60 days to be used in subsequent years — as well as 3 personal days annually. A school spokesman said he does not know the dollar value of these unused days.
Adding in the $905,000 check she was given to walk away, that means her buyout likely totals more than $1 million.
It's also worth noting that under the buyout agreement, the School District agrees to “not contest any claims which Dr. Ackerman may make for unemployment compensation benefits.” Also under the agreement, the School District must release the buyout agreement to the media following its ratification, but after that the School District can only hand it over in response to Open Records Law requests — and even then, Ackerman and her lawyer must be informed of who's asking for it.
You can read the buyout agreement for yourself here.
*This post has been corrected. The original post included "$130,000 in contributions to two deferred compensation plans" as an additional benefit Ackerman is receiving, but that compensation is part of the $905,000 buyout.