The head of Maryland's Workers' Insurance Fund will receive two years salary and health benefits after he steps down from his post to face federal corruption charges stemming from his term as state senator.

Thomas Bromwell, 57 years-old, chief executive officer and president of the Injured Workers' Insurance Fund, will step down from his post Dec. 31, according to a statement from the fund.

Mr. Bromwell will be replaced on an interim basis by IWIF chairman Daniel E. McKew until a replacement is found.

"The board expresses its sincere appreciation to Thomas Bromwell for his exceptional leadership of IWIF and wishes him a successful outcome of his trial, which we recognize will require his full and undivided attention," Mr. McKew said in a statement.

Under the agreement, Mr. Bromwell will receive two years salary, or $400,000 total, as was outlined in his employment contract. IWIF will also continue to pay the premiums for his health coverage for a period of 18 months under a precedent set prior to Mr. Bromwell's joining the fund. Additionally, Mr. Bromwell will be able to purchase his company-provided automobile at the current fair-market value.

Prior to joining IWIF in 2002, Mr. Bromwell served in the Maryland General Assembly for 23 years. During his last eight years there he served as president of the state Senate Finance Committee.

A federal grand jury indicted Mr. Bromwell in October of 2005 on charges of accepting bribes from a local construction company, Poole and Kent Co., during his time in the state Senate in exchange for steering state contracts to the firm.

Prosecutors allege that the construction firm obtained millions of dollars of state contracts in exchange for providing his wife, Mary Pat, with a fake job. She was also indicted.

Additionally, prosecutors allege that the construction firm did more than $85,000 worth of work on the Bromwells' home at no cost.

Mr. and Mrs. Bromwell have pled not guilty to the charges. A trial is set to begin in March in federal court in Baltimore. Both could face a maximum of 20 years in prison.

The head of the construction firm, W. David Stoffregen, pled guilty to charges connected to the case and is cooperating with prosecutors.

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Indicted Maryland Insurance Fund CEO Gets Parting Salary

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