Terrence McDermott, who stepped down last year as CEO for the National Association of Realtors trade group, received total compensation in 2004 of about $2.63 million, which included annual salary as well as accrued merit bonuses and past earnings from a mutual fund program. He also received $119,211 in contributions to an employee benefit plan in 2004, according to a tax document filed by the trade group. American Banker, a news source for the financial services industry, reported that McDermott was the highest-paid executive in a survey of 11 real estate and financial trade association executives. According to the Realtor group's Form 990 filing with the Internal Revenue Service, which is required for some organizations that are exempt from income taxes, the group spent about $26.7 mill...
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