Ivy Tech President Gets $1M Retirement PayoutOctober 3, 2017 |
by Associated Press
SOUTH BEND, Ind. — The former president of an Indiana community college has received a more than $1 million retirement payout despite the university’s struggle with budget cuts.
The South Bend Tribune reports that Tom Snyder retired as president of Ivy Tech Community College in June 2016.
College officials say the payout includes salary for 2016-2018, deferred compensation, vacation and sick pay payout, and taxable vehicle and personal use funds.
Snyder’s retirement came at a time when the community college system’s enrollment had dropped by 25 percent over three years. The university laid off employees and left positions unfilled in response to the loss of revenue.
The payout wasn’t revealed at the time of Snyder’s retirement. The newspaper requested the details of the payment through a public records request.