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Iowa Lottery CEO Gets $81,000 Raise

Aug 9, 2004, 8:25 am

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Iowa Lottery

The CEO of the Iowa Lottery has himself hit the jackpot.  Gov. Tom Vilsack awarded Ed Stanek an $81,000 raise, making him the second-highest paid state employee outside of the university system.

The raise brings Stanek's salary to $207,000 a year, which comes from lottery revenues, not taxes. The highest-paid employee is Dr. Julia Goodin, the state's chief medical examiner, who makes $220,417.

It was all part of a deal to make sure Stanek won't take early retirement this year. He said the $81,000 is a bargain compared to what the state would have to pay in his retirement and in the search for a replacement.

Stanek created the Powerball game and has run the Iowa Lottery since it began in 1985.

The 58-year-old Stanek said he hadnt received a pay raise in four years. "I was considerably underpaid and I am the senior lottery director in the country. I am known worldwide as the inventor of Powerball."

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