MSD official may get $200,000 bonus
LOUISVILLE, Ky. (WDRB) -- The head of the Metropolitan Sewer District is in line for a $200,000 bonus, and local taxpayers will be footing the bill.
If Executive Director Bud Schardein stays with MSD 15 more months, he's entitled to the money after retirement.
Schardein wouldn't comment on the issue before today's MSD board meeting.
MSD reps say the agency uses these trust fund-type packages as an incentive to retain executives.
"We don't believe it's excessive," said Brian Bingham of MSD. "It was a decision made by the board at the time based on other districts and what others will be paid. The amount is actually $40,000 a year and will be put into that trust and $200,000 over the life of that contract. That money is then paid out over 10-year installments."
In June, Mayor Greg Fischer called for a review of MSD.
Reports say State Auditor Krit Luallen will look at Schardein's bonus, as she evaluates the agency's management practices.