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From the staff of the Tampa Bay Times

Saxon to get hefty retirement package



Don Saxon, who agreed to step down as the chief of the beleaguered Office of Financial Regulation Tuesday morning before being ousted by the Florida Cabinet, faces a sweet retirement package.

While Saxon hasn't officially given his notice to the Florida Retirement System yet, he announced in a press release he plans to retire when he leaves Sept. 30. He will be eligible to collect from his participation in Deferred Retirement Option Program a lump sum payout of $198,675. He will also collect a monthly benefit starting in October of $5,140.62 monthly or $61,600 a year. Saxon worked 33 years in state government.

Saxon, 57, currently makes $133,157 a year.

[Last modified: Wednesday, September 15, 2010 10:06am]


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