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County manager got €334k retirement package

Retirement package was worth €334,000
Retirement package was worth €334,000

The interim manager of Waterford County Council has said he will not be commenting further on reports regarding a retirement package for his predecessor.

Ray O'Dwyer was appointed County Manager in 2004 and retired in September with a package totalling €334,000.

Figures released by Waterford County Council show Mr O'Dwyer received a gross lump sum of €204,871.00, a gross severance gratuity of €66,255.50 and an annual allowance of €63,335.64.

The lump sum and annual allowance were based on 40 years' service, which included 8.3754 added years.

A County Council spokesperson confirmed that €200,000 of the lump sum is tax free. The annual allowance or pension can be drawn down straight away, even before the official public sector retirement age of 60.

Interim County Manager Denis McCarthy said he has no comment to make.

He told the Irish Independent that future appointees would have to accept whatever is legislated for them in relation to possible terms.