Penn State made no special concessions when calculating Joe Paterno $13.4-million pension, The Associated Press reported today.
The school arrived at the amount based on standards established in the State Employees’ Retirement System.
Paterno’s widow, Sue, is to collect $10.1 million by the end of this month, and the remaining $3.3 million over the next two years, according to the AP.
Paterno died in January at age 85, three months after Penn State fired him when sexual abuse allegations leveled the school’s football program.
Former defensive co-ordinator Jerry Sandusky faces charges he abused 10 boys at Penn State while Paterno was head coach.
Paterno coached the Nittany Lions for 61 years, beginning as an assistant in 1950.
He took over as head coach in 1966, and would eventually set an NCAA record for Div. 1 coaching with 409 wins.
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At the time of his death, Paterno earned $1.2 million – most at the school.
A family spokesman said today Sue Paterno planned on donating $1.5 million to charity, the AP said.
The pension figure comes after the school announced earlier this year it would pay Paterno’s estate $5.5 million for his final contract and benefits, The Patriot-News reported.
The payment included a $3-million career bonus, $900,000 from TV and radio contracts and $500,000 in bonuses and salary.
A judge scheduled Sandusky’s trial for June 5, The Daily Collegian reported.
Senior Judge John Cleland also said May 30 is the date for a final preliminary hearing to resolve pre-trial issues.
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