By Brian Massie, A Watchman on the Wall
From a public records request we received the employment contract of Dr. Steven Thompson as the new Treasurer/Chief Financial Officer of the Riverside Local Schools. He replaced Mr. Gary Platko, who decided to seek “greener pastures” at another Ohio school district.
You may remember Dr. Thompson as the former Superintendent of the Willoughby-Eastlake School District.
Per the contract, he works 250 days per year less 25 days of vacation, 11 holidays, 15 sick days, and specified additional days per the approved school calendar. He gets paid a per diem for 10 additional days that the board designates as days off. It that is not enough days off, he can also take 3 personal days off.
Dr. Thompson’s annual compensation will be $168,000 per year.
In addition to the 14% of the employer’s contribution to the State Employee Retirement System, Riverside will pay the employee’s required contribution of 10%.
We will also pay 6% of Dr. Thompson’s annual salary to an annuity contract for his retirement. We will also pay 100% of healthcare, prescription drugs, dental, vision, life insurance, long-term disability and worker’s compensation. If there are any other types of group insurance other administrators get, Dr. Thompson get that also.
Here is his actual contract:
With the ink barely dry on this contract, Board President Scott Fishel thought that an adjustment to his initial agreement was necessary.
Original deal (paragraph 7K):
“The Board shall pay the employer’s share of SERS contributions as required by law. The Board shall “pick-up” (pay directly) the Treasurer’s contribution to SERS. Such pick-up shall be the entire amount of the employee contribution that the Treasurer is required to contribute to SERS, base up the salary reported to SERS as provided in this Agreement”.
Revised agreement on July 15, 2025:
“The Board shall pay the employer’s share of SERS contributions as required by law. The Board shall “pick-up” (pay directly) the Treasurer’s contribution to SERS. Such pick-up shall be the entire amount of the employee contribution that the Treasurer is required to contribute to SERS, based upon the salary reported to SERS as provided in this Agreement. The Board’s “pick-up” of the Treasurer’s contribution to SERS will be considered as compensation, and the Board will also pay the “pick-up on the pick-up,” meaning that the Board will pay the employer and employee retirement system contributions on the “pick-up” amount.”
Is this a great deal for the taxpayers? It appears the school board president just rolled over and agreed to anything Thompson asked for.
We wonder if the current Superintendent, Dr. Chris Rateno, has ever read the story about the Trojan horse?
Here is a previous article we wrote about Dr. Steve Thompson.
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Categories: Riverside S.D., Uncategorized