Incredible, you say?
Well, you haven't been following the news lately. This sort of arrangement seems to be all the rage. And it goes hand-in-hand with overpaid school superintendents and high-end bureaucrats who are swilling at the public trough.
One wonder how Chris Christie would deal with this guy.
Anyway, here's a bit of the story from the Arizona Republic:
Phoenix's Isaac School District, which plans to shutter schools and lay off employees because of money problems, will let Superintendent Carlos Bejarano retire June 30 and return to his same job - with the same compensation and perks - the next day.
Bejarano, 58, will retain his $130,000 annual salary, an $8,400 car allowance, an $8,000 annual tax-deferred annuity, and a $3,000 community-affairs allowance to use at his discretion. The district also will give him $11,238 so he can buy health-insurance coverage, according to district officials.
Pensions in Arizona a soaring burden
Bejarano will receive an annual pension estimated at $104,650 after retiring with 35 years of service, records reviewed by The Arizona Republic show, bringing his total annual compensation to roughly $265,000.