It’s not just Fortune 500 executives who get golden parachutes.
Take note of Randi Weingarten, who ran the city’s United Federation of Teachers until she left for its parent union in 2009.
According to the UFT’s annual filing with the Labor Department, Weingarten got to leave with a cool $194,188 — by cashing in unused sick time and vacation. That payout brought her total 2010 compensation to a whopping $600,000.
Not many companies allow employees to cash out unused vacation days; even fewer pay out unused sick time on top of that.
But, obviously, the world of organized labor is different.
It’s gratifying to realize that the largesse isn’t coming directly from taxpayers for a change. But we wonder how UFT rank-and-filers feel about the boodle coming from their dues.
Randi Weingarten is essentially gouging her union in much the same way that the union has taken advantage of New York’s fisc over the years.
And doing it, no doubt, with a smile.