Police chief's accrued vacation & sick leave > $500,000.00

[officeguy]

And those seem like reasonable policies. But getting a half million dollar check seems a bit excessive.

Would 32 checks of $12,500 have been ok ? Would the city have been better served with him taking an extra week off every year of his service ?

The google suggests that his happened in 2013 and that a bunch of his senior staff retired at the same time. I suspect the city has adjusted their policies to something that doesn't create that big of a future liability since.

 

[Wishbone]

Seems to me that 35 years ago, the Dow Jones was around 1000, now its over 20000..if he had been paid out yearly and he put it into a mutual fund, he would have earned more that 500k by now. I believe the unlimited accruals have been stopped for a while. Most have put a limit on what can be carried over year to year.

His earning rate for some of that leave was at a much lower salary as well.

 

[officeguy]

His earning rate for some of that leave was at a much lower salary as well.

Otoh, the city didn't have to borrow the money back then to pay out his sick leave or PTO. Had he taken his sick leave piecemeal like a good government servant and used it to make himself a couple of long weekends, they would have had to pay time and a half for the call in OT required to replace him on short notice.

 

[Larry Gude]

Otoh, the city didn't have to borrow the money back then to pay out his sick leave or PTO. Had he taken his sick leave piecemeal like a good government servant and used it to make himself a couple of long weekends, they would have had to pay time and a half for the call in OT required to replace him on short notice.

The whole thing just bothers me, how many of us rather reflexively don't like that this guy has done well.

 

[PeoplesElbow]

Yes.
I will apply my hours towards my years of service when I retire.
I will use what I was offered when I was hired.
Government.

Although kind of shady, if you are simple out sick a whole lot your last years, one you get to retire with the added time, two you get your regular pay check, three you keep your subsidized insurance, four more goes into your TSP, and finally you still acquire more leave. If someone pisses and moans about it, then you drop your retirement papers....