Paterno's salary tops $1 million
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Penn State University football coach Joe Paterno topped $1 million in salary last year, making him the highest salaried employee at the university, according to data the school will file under the state's new Open Records Law.
Mr. Paterno's salary for the period ending in June 30, 2008 was $1,037,322, the university said today.
The disclosure is the fullest accounting yet of the earnings of one of America's most widely known athletic coaches, though the amount would not include any outside funding that coaches typically receive. It does include a head coach's bonus and any other bonuses he might receive, as well as compensation from the university for television and radio appearances.
His pay was the highest among the 32 employees and officers whose pay is required to be submitted to the state by today. This is the first time the stat'e public flagship university has released salaries because it has traditionally been exempt from filing a federal disclosure and from state open records laws.
"In the spirit of openness promoted by the new law, Penn State is releasing publicly the financial information that will be disclosed," the school said in a statement this afternoon.
Penn State President Graham Spanier earned about half the salary of Mr. Paterno -- $590,004, according to the university.
His salary and that of Mr. Paterno will be reported in the filing following guidelines of federal Internal Revenue Service Form 990, the university said. In November 2007, the Pennsylvania State Employees Retirement System revealed that he made $427,220 for the first 10 months of the year, putting him on course to make $512,664 over 12 months, provided his pay did not fluctuate during the last two months.
First Published May 29, 2009 4:21 pm