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In 2009, then-CEO William Novelli received $1,647,419 in total compensation, including $350,000 in severance.
Why must a CEO of a NON-PROFIT make that kind of money?
What does he do to deserve such a large salary?
AARP gets a flat rate for the use of its name on prescription drug plans and Medicare Advantage plans.
However, it receives a per-member fee for every Medigap enrollee, 4.95 percent of the premium. AARP collects the full premium directly before remitting United's share. That allows it to invest the money and earn interest. It also requires that seniors purchasing an AARP Medigap plan become dues-paying members of the organization. The arrangement is potentially more lucrative than a flat rate.
Is AARP really on our side or are they making money by pretending to be on our side? I for one find it extremely frustrating that we have such people running AARP. ARE YOU ????