Community college president leaves with $334K payout
GARDNER - When Mount Wachusett Community College President Daniel M. Asquino retired two weeks ago, after 30 years at the college helm and 47 years in public higher education, he left the campus enriched with a new $41 million state-of-the-art science center and an institution that has become a civic and economic driver for the region.
He also left personally enriched with a sizable - and completely legal - pension and benefit payout package. The payments could be among the highest ever for higher education retirees.
The retirement payments are high because of Mr. Asquino’s relatively high salary and his lengthy service, the longest of any college or university head in the state.
The accrued-time payout is more than the $269,984 paid in 2015 to former Bridgewater State University President Dana Mohler-Faria, which then was the largest payout on record dating back to 2006. Mr. Mohler-Faria’s payment and other six-figure lump-sum payments to retiring higher education administrators prompted a review and change in policies for nonunion professional staff by the Board of Higher Education last year.
The policies affect the approximately 1,650 nonunion employees at the state’s 15 community colleges and nine state univeresities.
Before the changes, employees could carry over, year to year, up to 64 unused vacation days. Unused vacation days would be paid out at retirement at full value based on current salary.
Accrued vacation days beyond the 64-day cap could be converted to sick time and cashed out upon retirement at one-fifth the employee’s pay rate.
Starting last July, accrued, unused vacation time beyond 64 days would be forfeited.
The board also reduced the number of vacation days allowed for employees hired on or after Jan. 1, 2017.


