Now that ObamaCare restricts the pay of all at health care firms to $500k, New Jersey Governor Chris Christie – struggling with the huge deficits that are causing states to cut basic services -- wants to restrict the pay to executives of non-profits that provide services to the state for aid to 1 million needy families.
Depending on size, pay will be limited to between $105,850 and $141,000.
Further:
Executives are not the only target for contract changes, according to the memo:
• State money shall no longer be used for any employee seeking reimbursement for tuition, textbooks and supplies "unless such courses are required by the contract, licensing certification and Medicaid standards."
• Agency officials must seek state permission before they buy a new vehicle. They must justify its use to fulfill the state contract, demonstrate they have sought three bids, and shall not to exceed $25,000 unless they are buying a passenger van or vehicle for disabled people.
• Agency officials must seek state approval before spending more than $250 per person, per event on travel expenses.
• State money may not be used to defray severance costs unless the employee served more than a year with the company. And that would be capped at two weeks of severance pay and benefits.
Executives can try to make more from private contributions targeted to their salaries, bonuses and benefits. That should be interesting.
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Tracked: Apr 28, 10:51