BRIEF: Newport-Mesa Superintendent to receive $34,450 bonus for ‘exceptional’ performance

Dec. 13--The Newport-Mesa Unified School District board of trustees unanimously voted to grant Superintendent Fred Navarro a $34,450 merit bonus at its Monday, Dec. 11 meeting.

The board rated Navarro's performance for the 2016-17 school year as "exceptional" and will pay the money into a tax shelter annuity.

A tax shelter annuity, known as a 403 (b) is a retirement plan similar to a 401K, in that it lets employees defer income into other accounts, according to the Internal Revenue Service.

Navarro will be paid a salary of $282,944 for the 2017-18 school year following the board's decision last month to grant a 2.5 percent pay increase to district executives.

His pay will receive a bump to $289,915 for the 2018-19 school year, according to the district.

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