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Senate Wants To Cut Cord on Public Sector Golden Parachutes

Lucrative golden parachutes aren't just the domain of CEOs in the private sector and Illinois Senators spoke out against the practice with one voice last week. 
 
They unanimously approved the Government Severance Pay Act, which moves the legislation to the House. Better Government Association policy director Madeleine Doubek said big payouts are seen in all corners of the public sector.
 
 
Doubek believes recent severance payouts show the need for the legislation, which would eliminate severance packages for public employees let go because of misconduct.
 
 
Under the legislation, severance packages for all public employees would be limited to no greater than 20 weeks compensation. The changes would only apply to future employees.

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