Outgoing Green Bay Superintendent Daniel Nerad will receive more than $150,000 in retirement pay during the next five years, even as he starts his new job as head of the Madison School District.
The money is part of the district’s emeritus program, a benefit formula that provides money — but not insurance — for certain departing administrators.
“It’s in the (administrator) benefit package,” said John Wilson, the district’s assistant superintendent for human resources, “and it is based upon your age and years of service with the district.”
Administrators must be at least 55 years old, and their age plus years of service must equal at least 70, to qualify for the benefit. Nerad, 56, has been with the district in various capacities for 33 years, including the last seven as superintendent.
Outgoing Green Bay Superintendent Daniel Nerad will receive more than $150,000 in retirement pay even as he starts another job that pays nearly $200,000 per year.
Nerad will become the superintendent of the Madison School District starting Tuesday.
Green Bay district spokesman John Wilson said the retirement pay is part of the district’s benefit package for certain administrators.