Daily News | Why SEPTA has to pay $450,000 in salary to an executive it terminated in 2021
Turns out leaving a SEPTA job can be just as lucrative as working there — at least when you’re at the top.
SEPTA spokesperson Andrew Busch confirmed that Lund, who has moved to the Pacific Northwest, will continue being paid until June 30, after which he will become eligible for pension benefits. By then he will have collected a total of nearly $450,000 in salary and severance payments since SEPTA terminated his employment.Busch explained that SEPTA eliminated Lund’s position in a COVID-era reorganization about a year into a three-year employment contract he and the agency signed in January 2020.
, president of the Transit Workers Union Local 234, which represents about 5,000 SEPTA employees, said he wasn’t surprised by Lund’s deal. Asked if it was a problem to continue paying employees who no longer work at the agency, Ellis said “buying out” execs was a common business practice.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why car prices are still so high — and why they are unlikely to fall anytime soonThe average new vehicle costs nearly $49,000, an almost $10,000 increase from before the pandemic. Why are prices remaining stubbornly high? Here are a few reasons.
Read more »
Why car prices are still so high — and why they are unlikely to fall anytime soonThe average new vehicle costs nearly $49,000, an almost $10,000 increase from before the pandemic. This is a look at today's deeply weird auto market:
Read more »
March Madness second-round prediction: Princeton vs. Missouri pickHere’s why we are backing the underdog when Princeton plays Missouri during the NCAA Tournament.
Read more »
Chloe Bailey Recaps Her Journey from Playing a Young Beyoncé to 'Grown-ish' & Prime Video's ‘Swarm'Chloe Bailey recaps her journey from playing a young Beyoncé to 'Grown-ish' and SwarmOnPrime while on an episode of ColliderLadiesNight!
Read more »
Why Gilmore Girls' Paris Is Rory's TRUE Best Friend (Not Lane)Lane Kim is set up as Rory Gilmore’s childhood best friend in Gilmore Girls, but it is actually Paris Geller eho ends up fulfilling that role.
Read more »