Posted on 11/15/2011 6:08:38 PM PST by Former Fetus
Former Penn State football coach Joe Paterno's long service at the university theoretically puts him in line for a pension of more than $500,000 a year, according to an Associated Press analysis of state public pension records.
Paterno's pension records obtained Tuesday from the State Employees' Retirement System credit him with more than 60 years in the system. The formula used to determine benefits makes him eligible for a pension equal to 100 percent of the average of his three highest-salary years.
His pay rose from $541,000 to $568,000 over the past three full calendar years.
(Excerpt) Read more at espn.go.com ...
THIS is why I don’t support college sports. Kids that shouldn’t even be at college get a free education while not even having to attend class. It is total corruption based on the FALSE belief that sports brings revenue to colleges.
And he’s laughing all the way to the bank...
the lesson is... don’t hire homosexuals if there are kids anywhere nearby. if you do, you open your company up to liability lawsuits since homosexuals have a MUCH higher incident rate of child attacks
It’s surprising he wasn’t making 5 million a year. He worked at a public institution for 50 years. Who could be surprised he’s got a pension coming? It’s not like he will be collecting it for 40 years, like some 3rd grade teachers.
I hope he goes to prison for his disgusting coverup of that monster, Sandusky. I don’t think the pervert could’ve kept sodomizing boys without JoPa looking the other way.
Prison for JoPa and, therefore, no pension.
What a sad legacy...for JoePa and PSU :(
Well, just think of all the money old Joe brought in for the school. Obviously from the reaction of the media and the Penn St. crowd, he was the most valuable asset the school had. Money talks especially loudly on university campuses.
Half a million a year.
wow.
Those poor deprived public servants.
I for one do not begrudge JoePa one penny for the pension he has earned during his many years with Penn State.
Clear case of the need for caps on public pensions tied to the level of contributions of the individual retiree. If he had actually actuarially made payments into his retirement fund that would legitimize a $500K per year pension then so be it. His legal situation is something else.
Clear case of the need for caps on public pensions tied to the level of contributions of the individual retiree. If he had actually actuarially made payments into his retirement fund that would legitimize a $500K per year pension then so be it. His legal situation is something else.
yes by all means lets skip the fair trial and just hang him
and damn finding the facts of the case.
sounds like a lynch mob here...
FYI - the formula for PA state pensions is .025 x Years of Service x Avg of 3 Highest Years of Salary.
Your method is reality. You can complain?
That would have been a difficult lesson to apply in this case, considering that Sandusky was not outwardly homosexual, as he has been married (to a woman - sadly, one needs to specify that these days) for many years.
Sick woman imo.
Until I know the answer to what he knew, who he told, etc. I’ll withhold further judgement. That said, he worked for his employer for more than 60 years... so as a capitalist, I’m fine with his pension.
A pension? After making over $500k a year for the past decade?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.