Letter: Retirement plan sounds like a sweet deal
Boy, what a deal the employees at the University of Iowa have with their newly designed early retirement plan. It’s an additional plus when you get to design the plan and take advantage of it.
Susan Buckley, former vice president for human resources, and Richard Saunders, former assistant vice president for human resources, developed the incentive program and they both participated. That’s a pretty sweet deal. Buckley also reviewed and approved all the applications (which I’m sure included her own). That sounds like a “conflict of interest” if I ever heard one.
It sounds like UI’s internal auditors found several inconsistencies. It doesn’t sound like they were saving any money. They developed a “re-employment” program for participants. One employee’s rate of pay while employed at the university was $30 per hour. When that employee came back as a contractor, his rate of pay was $90 per hour. Wasn’t any one overseeing any of this? It’s no wonder tuition and everything is so high at Iowa. They want to raise the tuition again.
And now the Board of Regents wants to consider an early retirement incentive for their own office. I’ll bet that will be a humdinger. I’m sure they’ll design their own, too.