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Retired OSU President Gee Claims Retirement Compensation Fair
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The former president of Ohio State University who retired earlier this month amidst controversial comments, remains at OSU under a new agreement. Details released this week show Gordon Gee will receive a large one time payout and annual compensation that totals several million dollars.
Gordon Gee says despite some criticism over retirement agreement being too expensive, he says itâ€™s fair. Ohio Stateâ€™s board of trustees agreed to pay Gee an upfront one time payout of $1.5 million dollars and $410,000 a year for the next five years.
â€œYou know I donâ€™t defend my own retirement package. I certainly believe my work will continue on behalf of the university and on behalf of the state and hopefully I will be enormously value added. That is my intent,” says Gee.
Gee will have tenure as a law professor at the universityâ€™s Moritz College of law and will also lecture. Gee retired earlier this month after being reprimanded for making remarks critical of Catholics, Notre Dame University and the Southeastern Conference. He says his new contract does not include a comments clause.
â€œObviously I will always be the most enthusiastic cheerleader for the university because I am, and the opportunity to speak out and speak up on issues that are important I will always do that, I always have done,” Gee said.
Gee has said he agrees to pay the remainder of his $1 million pledge to the schoolsâ€™ scholarship fund. So far he has paid $286,000 of that pledge.
When Former OSU President Karen Holbrook retired from her position in 2007, she was given a lump sum of $250,000.Â In 1972, when Former OSU President Novice Fawcett retired from the university, he was given a consulting job at the university at the rate of $10,000 a year, and a retirement package of $37,500 a year. In today’s dollars, the $47,500 would be worth about $265,000.