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Ex-hospital CEO convicted of Medicaid fraud to fund $6M parachute

Ex-hospital CEO convicted of Medicaid fraud to fund $6M parachute
December 9, 2010 --

Former Thomasville hospital CEO Ken Beverly was convicted of Medicaid fraud on Wednesday, two years after he cashed out with a $6.3 million retirement package. The feds charged Beverly and the hospital’s ex-CFO fabricated records so Archbold could collect more Medicaid money. In doing so, a federal prosecutor said, large pensions were “first and foremost on their minds.”

Michael Lomax, United Negro College Fund CEO: $1.27 million

Michael Lomax, United Negro College Fund CEO: $1.27 million
December 6, 2010 --

Michael Lomax, former Fulton County Commission chairman, has done quite well for himself since leaving town. He’s served since 2004 as president and CEO of the United Negro College Fund, which paid Lomax $1,271,938 last year. That sum included base pay of about $354,000, a partial retirement package of $686,000 and another $96,000 toward his next retirement package, which vests in 2012.

How will ATL’s next mayor handle $1.2 billion pension shortfall?

August 17, 2009 --

Atlanta’s public pension funds are $1.2 billion in the hole, largely the result of shortsighted decisions at City Hall over the last eight years. A new report calls, among other things, for slashing benefits for new employees. But those steps won’t help much with the funds’ current liabilities. Legally, the city cannot take back benefits that workers have already earned. Read how four candidates for mayor want to fix things.