Public Hospital CEO receives 4.9 million severance & retirement payout while still employed

[Liberal_in_LA]

Public hospital official got nearly $1 million in severance on top of $3.9-million retirement payout

A Salinas public hospital district, already under fire for granting its outgoing chief executive $3.9 million in retirement payments, also doled out nearly $1 million to the executive as part of an unusual severance agreement, according to records obtained by The Times.

The payment fattened what was already considered one of the more generous public pensions ever given in California. Its disclosure prompted the state Assembly earlier this month to order an audit of the hospital district's finances.

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"It sounds like a lot of money to everybody ... but I know what the industry is and I know the board did an independent study," he said. "The board did an excellent job. They made sure we had competitive salaries."

But several other district hospitals contacted by the Times, as well as compensation experts, said it is unusual for an entity to award severance when the recipient remains employed and continues to draw a salary.

http://latimesblogs.latimes.com/lanow/2011/05/public-hospital-official-got-nearly-1-million-in-severance-on-top-of-39-million-retirement-payout.html

[Enrique]

1. is this hospital in Bell, CA by any chance? n/t

[Liberal_in_LA]

2. nope. Northern CA. But same mentality.