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You think only CEOs of big companies get these golden parachutes?
$18M for Tony Hayward at BP, $32M for Mark Hurd at HP?
Think, again. The embattled Chief of Police of San Jose, California, Ron Davis, is retiring. Mr. Davis is barely 50 years old. If he lives to an average US male age of 78, he will receive $6,000,000 dollars in pension benefits PLUS life time health insurance for himself and his dependents. – A retirement package is potentially worth $7 to $8 million over his expected lifetime. Given his age, and his recent candidacy for the Chief’s job in Dallas, Texas, we can expect that he will be able to improve on this number.
The Chief is an example of typical public employee retirement packages.