Mr. Downing will collect nearly $4 million on top of his $150,000-per-year pension. The amount has drawn heavy criticism from union leadership, who say that the package is “outrageous” in a time when hospital district administration is looking to cut staff and reduce costs. Mr. Downing has previously received flack for his $668,000 base annual salary, which ranks third-highest in the state among public employees.
According to the report, Mr. Downing’s retirement pay is one of the highest in the state for a public official. The retirement plan was reportedly split into several accounts to bypass IRS rules on the size of individual plans, a common structure for hospital executive retirement packages.
Salinas Valley Memorial Healthcare System officials have said Mr. Downing has worked hard and deserves a great retirement, having devoted his career to growing the organization from a small, community hospital to a top health system.
Read the Monterey Herald report on Sam Downing.
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