This post has been updated.
The top three Palomar College employees to benefit from an early retirement incentive approved last week are also the ones who structured and negotiated the deal.
College President Robert Deegan and two vice presidents, John Tortarolo and Berta Cuaron, will retire June 30 and take home roughly $150,000 each as an incentive.
The offer – negotiated with the faculty union as a cost-saving measure – provides employees 55 and older who have at least five years of employment a 75 percent base salary payout, capped at $150,000, to retire.
The deal was extended to unrepresented staff, managers and administrators, even though conservative projections show the administrator incentives won’t save the college money in the long run.
Still, across all employee groups, savings are projected to land somewhere between $683,800 and $1.98 million in five years. The board unanimously approved the deal last Tuesday.