This month, the beloved superintendent of the Princeton School District gave notice. Had this 2005 Superintendent of the Year not retired, the cap would have forced her $225,000 salary to be cut by $50,000. So, “with a heavy heart and very mixed emotions,” she announced her retirement. At age 56, she will now collect a pension of almost $144,000 annually for life.
Consequently, when the state attempted to reduce the superintendent’s salary by $50,000, they instead triggered a $144,000 annual payout for which the district gets nothing in return. The school district will still need to pay her replacement a comfortable six-digit salary. This instance alone leaves taxpayers holding the bag for an additional one-quarter of a million dollars over the three years until the cap is set to expire.
The increase in taxpayer costs runs contrary to the $9.8 million savings promoted by the governor.
Labels: school funding