From today's edition of The Mercury in Pottstown, Pa.:
THORNS to a system that rewards state agency chiefs with exorbitant pension benefits. The head of Pennsylvania’s student-loan agency will qualify for an annual pension of more than $350,000 when he retires at the end of the year, according to The Patriot-News of Harrisburg. The Patriot-News used state pension system records to estimate the retirement benefits for Dick Willey, who recently announced his intention to retire as president and chief executive of the Pennsylvania Higher Education Assistance Agency. Willey’s base salary is $289,000, and he received a $181,000 bonus last month that counts toward his pension. His departure comes as the agency is under scrutiny for its spending on perks and executive bonuses, which makes this another example of questionable management getting rewarded with a generous payoff. The following state lawmakers who serve on the PHEAA board of directors should be replaced on the board (and by voters in 2008) for their lack of oversight: Rep. William F. Adolph Jr.; Sen. Sean Logan; Rep. Ronald I. Buxton; Sen. Jake Corman; Rep. Craig A. Dally; Sen. Jane M. Earll; Sen. Vincent J. Fumo; Sen. Vincent J. Hughes; Rep. Sandra J. Major; Rep. Jennifer L. Mann; Rep. Joseph F. Markosek; Sen. Michael A. O’Pake; Sen. James J. Rhoades; Rep. James R. Roebuck Jr.; Rep. Jess M. Stairs; Sen. Robert M. Tomlinson.
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