Departing Consultants eligible for severance pay of at least $710,000

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Councilor Mike Layton announced on Wednesday that he will not be running for re-election on October 24.

The 12-year-old veteran is one of seven board members who have resigned or announced they will not run again in 2022.

Former Councilors Michael Ford and Kristyn Wong-Tam successfully ran in the June 6 provincial election.

Their former colleague Joe Cressy resigned in April and now holds a senior position at George Brown College.

Councilors Ana Bailao, John Filion and Denzil Minnan-Wong have all indicated they will not run again in their wards.

Between them, the seven councilors have nearly 100 years of experience on the Toronto Council.

Advisors who have served at least 12 years are entitled to the maximum of one year’s salary as severance pay.

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The 2022 annual salary for Toronto councilors is $120,502 while the mayor earns $202,948 per year.

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Board members who retire, resign, or lose an election and who have served at least 30 days receive severance pay equal to 1/12 of their annual compensation for each consecutive year of service based on their salary at the time of retirement. their departure.

There is a lifetime maximum of 12 years for a board member’s severance pay.

Advisors who have not served 12 consecutive years receive a pro-rated portion of the severance pay.

Counselors also receive a stipend of up to $3,500 for job placement, transition, or retirement counseling if the services are used within one year of termination.

The record amount of severance paid to Toronto councilors remains that of 2018, when nearly $2 million was paid to 26 council members who quit, many because their seats disappeared when Premier Doug Ford resigned. cut the board by almost half.

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