Schools
Former Inver Hills President Received $153,361 Retirement Payout
Cheryl Frank received the sixth-highest payout for a state worker in the last two years, a KSTP news report revealed.
Former President Cheryl Frank received a $153,361 payout when she retired in 2009, according to a KSTP news report that aired Sunday.
Included in Frank's payout was $86,966 for 130 days of unused sick leave, $22,744 for 34 days of unused vacation time and $43,650 in other severance pay. Frank was one of the top earners among the 10,683 state workers who received payouts between 2009 and 2011, the KSTP investigation found. Many of the highest earners are former Minnesota State Colleges and Universities officials.
Officials from the MnSCU system, of which Inver Hills is a part, defended the payouts in the KSTP report, saying they are part of the employees' contracts and are necessary to recruit and retain top talent.
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KSTP's report prompted and determine whether they are appropriate.
Another Inver Hills official, former CFO Larry Margolis, received $65,481 payout , according to KSTP's findings.
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