Toms River superintendent announces retirement after arrest

TOMS RIVER - Michael Ritacco, the superintendent of Toms River schools, abruptly retired from his job yesterday, hours after being arrested on official corruption charges.

Ritacco sent a letter to the school board Thursday saying he is retiring effective Friday morning. The board unanimously accepted his retirement and named Assistant Superintendent Frank Roselli as interim schools chief.

At the meeting last night, school officials assured taxpayers they will not be paying for Ritacco's legal defense. The board also said the state will decide "if" and "when" he receives his pension.

Prosecutors say Ritacco concealed more than $1 million in bribes between 2002 and April 2010 from insurance brokers and other service providers.

Ritacco turned himself in to federal authorities yesterday morning in Newark. He was later freed on $1 million bail, which was secured for with his home. His travel has been restricted to New Jersey.

Michael Ritacco Indictment

Toms River BOE: Ritacco will keep job Report: FBI search may involve insurance contracts FBI raids Toms River BOE, superintendent's home

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