How much was Narda Garcia getting paid as Social Security's CEO? It's a question that's been bedeviling the media and piquing public curiosity ever since she was sent home on July 21st. Well tonight, 7NEWS has finally obtained that employment contract.
In December of 2004, the board voted to hire Garcia as the CEO, and on the 16th of that same month, Chairman Yasin Shoman signed her unto a highly lucrative 5 year contract valued at close to a million dollars. Garcia's salary was $170,000 a year, excluding travel, subsistence and a vehicle.
How is it broken down?
- It says that Social Security pays her $7,083 tax free per month, that's $85,000. That's a sweet salary, but that's where the perks kick in.
- First there's a special allowance of $2,500 per month, for another $30,000 per annum.
- Garcia was also entitled to a gratuity of $25,000 a year, paid annually for every year of her contract.
- Further Garcia was authorized to received a $15,000 vacation grant leave.
There's also a $12,000 a year housing allowance, and a telephone allowance of $3,600 a year.
- And while that's $170,000 in cash, the perks aren't too bad either.
- Garcia got 25 working days vacation,
- A vehicle, in her case a Toyota Prado,
- And Social Security's life and health insurance.
Next week, this contract and the grounds of her termination will go before a court appointed arbitrator. Garcia feels she was wrongfully dismissed, and in a parallel action is also challenging the report of the Senate Special Select Committee. According to unconfirmed reports, she was sent home with a $90,000 payment.
