Board Oks $96K pension for ex-county appointee
Tue, 27 Aug 2013 10:49:26 GMT —
A former appointee will receive a pension of about $96,000 despite working less than 9 years on the job for fiscally troubled Wayne County.
The Detroit News and Detroit Free Press report that Employee Retirement System trustees on Monday voted 5-3 to approve Matt Schenk's pension which kicks in when he turns 42 later this year.
Schenk served as chief of staff to County Executive Robert Ficano who offered the early retirement incentive. Schenk was able to buy discounted service credits that let him reach 20 years of service with the county.
The annual pension for average county retirees was just over $23,100 in 2011. Most county workers can't get pension benefits until after age 55.