Thursday, 21 May 2009 13:33The Obama administration’s plan to regulate executive pay at companies that receive taxpayer funding should include Long Island’s public school administrators since their revenue is from property taxes and state aid.
If President Obama sets the executive pay cap at $215,700, which is the salary of Vice-President Joseph Biden, some school superintendents would have to take a whopping cut in pay, bringing some welcome relief to taxpayers.
Long Island’s school administrators are among the highest paid in the nation. Syosset’s public school superintendent receives $366,266 a year in salary plus $61,222 in benefits. Valley Stream pays its high school district superintendent $338,160 in salary and benefits.
Long Island has some highly paid “double-dippers,” administrators who retire with a pension and are then rehired by another school district. Malverne’s school superintendent who retired from the Commack School District with a pension of $316,245 now has a total annual compensation of $550,000 as a “double-dipper.” That’s far more than President Obama’s salary. New York school administrators and teachers have a special perk – they don’t pay any state income tax on their pensions.
The government’s pay regulation should also address the money paid administrators who are serving jail terms such as the former Roslyn school superintendent who receives a pension of $173,495 while in prison for stealing $2.2 million from the school district.