Mpp serverance plan

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Mpp serverance plan

  1. 1. MPP Severance Plan
  2. 2. MPP Severance PlanFour years or less of service – 50% of salary*
  3. 3. MPP Severance PlanFour years or less of service – 50% of salary*More than four years, less than eight – 100% of salary
  4. 4. MPP Severance PlanFour years or less of service – 50% of salary*More than four years, less than eight – 100% of salaryMore than eight years – 150% of salary
  5. 5. MPP Severance PlanFour years or less of service – 50% of salary*More than four years, less than eight – 100% of salaryMore than eight years – 150% of salary* Salary used for calculation is the average salary over the last36 months prior to retirement or resignation.
  6. 6. MPP with no Additional ResponsibilitiesDate elected: October 2011Years of service: 10 monthsAverage annual salary over three years: $116,550Multiplier for severance: 50%
  7. 7. MPP with no Additional ResponsibilitiesDate elected: October 2011Years of service: 10 monthsAverage annual salary over three years: $116,550Multiplier for severance: 50%Eligible for severance payment of: $48,562
  8. 8. Former MPP Leona DombrowskyElected: June 1999 – October 2011Years of Service: 12.3 yearsAverage annual salary over three years: $165,851Multiplier for severance: 150%
  9. 9. Former MPP Leona DombrowskyElected: June 1999 – October 2011Years of Service: 12.3 yearsAverage annual salary over three years: $165,851Multiplier for severance: 150%Eligible for severance payment of: $248,777
  10. 10. Education Minister Laurel BrotenDate elected: Oct. 2003Years of service to date: 8.8 yearsAverage annual salary over three years: $164,038Multiplier for severance: 150%
  11. 11. Education Minister Laurel BrotenDate elected: Oct. 2003Years of service to date: 8.8 yearsAverage annual salary over three years: $164,038Multiplier for severance: 150%Eligible for severance payment of: $246,057
  12. 12. Finance Minister Dwight DuncanDate elected: June 1995Years of service to date: 17.2 yearsAverage annual salary over three years: $165,851Multiplier for severance: 150%
  13. 13. Finance Minister Dwight DuncanDate elected: June 1995Years of service to date: 17.2 yearsAverage annual salary over three years: $165,851Multiplier for severance: 150%Eligible for severance payment of: $248,777
  14. 14. Premier Dalton McGuintyDate elected: Sept. 1990Years of service to date: 21.9Average annual salary over three years: $208,974Multiplier for severance: 150%
  15. 15. Premier Dalton McGuintyDate elected: Sept. 1990Years of service to date: 21.9Average annual salary over three years: $208,974Multiplier for severance: 150%Eligible for severance payment of: $313,461

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