Ōtawara Mayor Cuts Future Retirement Bonus from ¥19,550,000 to ¥20
Ōtawara Mayor Cuts Future Retirement Bonus from ¥19,550,000 ($253,900) to ¥20 ($0.26)
Yomiuri Shimbun: 大田原市長の退職金、たったの２０円に
December 8, 2011
The Mayor of Ōtawara City will introduce an amendment to his own reimbursement plan during the city council’s December session adjourning on the 13th which would lower his retirement/severance bonus to almost zero.
“Zero Retirement Bonus” was one of Tomio Tsukui’s campaign pledges; he took office in April. Because the mayoral retirement system is managed by a union of 23 cities and towns, however, completely eliminating the bonus would require amending the entire union’s statutes. The mayor’s office abandoned that effort, but in order to keep its promise, it decided to make the benchmark for the bonus, which is based on the mayor’s monthly salary, ¥1.
The intercity union bases mayors’ retirement bonuses on their monthly salaries. With this amendment, the mayor would receive a ¥20 bonus upon the completion of his term in April 2014.
The mayor’s official monthly salary is ¥970,000 ($12,600). If this were the benchmark for his retirement fund, he would receive ¥19,550,000 ($253,900) upon completing his term. Because of the economic recession, the mayor is already accepting 10% less than that (¥873,000 or $11,340 per month), but even if his retirement bonus were based on those lower terms, he would be owed ¥17,590,000 ($228,450) after stepping down three years from now.Japan, Politics, Translations comment below, or link to this permanent URL from your own site.