I'm sure most people assumed this was the case, but Pennlive has confirmed that both are still receiving pensions. I'm not sure what the legal aspects are of discontinuing pensions, but I would like to think they could do something. The biggest thing that jumped out to me, was how much Gary Schultz is being paid. Ready to see tuition money hard at work?
When he retired, Sandusky opted to take a lump-sum pension payment of $148,271 from the State Employees’ Retirement System. The rest of his pension is being paid out monthly and is $58,898 annually.
Schultz could be far more richly paid. He elected to receive a $421,847 lump-sum payment at the time of his retirement in 2009, after nearly 39 years of service.
He also receives a monthly pension payment of $27,558 — nearly the cost of tuition for two in-state freshmen at State College. That comes to nearly $331,000 a year.
Let's also not forget that Tim Curley is on paid administrate leave, and Spanier is probably also receiving a nice little severance package. It makes me sick to think these people are still receiving even a dime from the University.