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Gee Earns $641K By Staying One Additional Day
Ohio State President Gordon Gee is getting more than a half-million dollars in retirement credits because he’s leaving the president’s office on July 1 instead of June 30.
A copy of Gee’s contract supplied by OSU says he receives a “Supplemental Retirement Benefit Credit” every June 30th. This year he’s due $641,301.
The contract says Gee is entitled to the balance of the account by June 2015.
Per the contract, Gee will also be “granted the permanent status of President Emeritus, with an appropriate stipend, secretary and office for a period of five years.”
Gee announced this week that he’s leaving the president’s office on July 1. OSU trustees say Gee will retain some role with OSU, although the exact role is still unclear.
Gee’s retirement follows heavy criticism of comments he made about the Southeastern Conference, Catholics and Notre Dame, the University of Louisville, and former University of Wisconsin football coach Bret Bielema.
Gee says the comments and subsequent fallout played “a minor role” in his retirement. He says a desire to spend more time with his family was the main motivation.
Board of Trustees president Robert Schottenstein declined to discuss retirement benefits in detail following the close of the monthly board meeting Friday, the last to include Gee as university president. Schottenstein said negotiations, which he expected to be amicable, would begin soon and be concluded quickly.
“This is not the day to discuss it,” Schottenstein said. “We’re celebrating an extraordinary presidency by one of the most amazing men that any one of us will ever meet. And candidly, I don’t think today’s the day to talk about it for several reasons. One, we’re not ready, it’s speculation, and it’s a little inconsistent with the moment.”