The buyout of Superintendent Martin Waters by the Evans County Board of Education will cost the district more than $326,000, records obtained by TheGeorgiaVirtue.com show.
Waters’ contract includes a stipulation of eighteen months compensation for ‘early termination.’ The buyout also includes the payout out his local supplement and vacation days.
Beginning June 1, 2025 and through November 30, 2026, the board will pay out compensation based on:
- $140,623 annual base salary
- $7,013.15 annual local supplment
- $14,610.75 for 25 vacation days at $584.43 per day
The total compensation comes to $161,886.98.
According to Board documents, those are pro-rated across eighteen months for a total of $242,830.62, but that amount is not the total cost for the district.
The Board of Education will make monthly installments in the amount of $13,490.59 for eighteen months.
For those eighteen months, the Board of Education will also:
- continue making employer share contributions to the Teachers Retirement System – $46,097.46 in total
- continue making health benefit plan contributions totaling $33,930
- FICA contributions – $3,521.05
- life insurance coverage ‘for as long as the group policy remains in effect for all employees,’ which exceeds the contract buyout term.
- pay any salary increases, state or otherwise, during the 18-month period
- continue to account for the accrual of sick and personal leave, which shall be reported to the Teachers Retirement System upon expiration of the contract
I could not edit my comment, so can you use this edited version?
“Is it always this way in the school systems and other government entities? Someone can steal taxpayer dollars; be so negligent as to be grossly incompetent which in itself makes the act a crime.
Can you not void a persons contract when they failed to uphold the oath of their office and the state laws?
Do you know how Loweds county Ga was able to prosecute the person that did the same thing in their county?