Salinas Health System CEO’s Pension Sheds Light on Issue
Pension reform advocates are calling attention to the retirement package of Samuel Downing, president and CEO of the Salinas Valley Memorial Healthcare System. Downing received a $3 million retirement payment two years ago when he turned 65, and he continued working at an annual salary of $668,000. He will receive another payment of about $900,000 when he retires this week, as well as an annual pension of $150,000. Officials at the public health care system say such payouts are necessary to attract and retain talent.
- "Public Hospital President's Retirement Pay Spotlights Issue of 'Supplemental' Pensions" (Allen, Los Angeles Times, 4/28).