AP Report: Paterno Earns $13.4 Million Pension
In an AP report released this afternoon, it was revealed that Joe Paterno earned a $13.4 million state pension over the course of his 61-year career. The money will go to his widow Sue Paterno, who will receive a lump sum of $10.1 million by the end of this month, with the rest being paid out over the next two years.
This payment comes on top of the $5.5 million termination payment that Penn State has already agreed to pay the Paterno family. For a man who made just over a million dollars a year at the end — much less than other A-list college football coaches — perhaps it’s some small justice that his family will be compensated nearly $19 million.
Unsurprisingly, the Paterno family has already planned to donate $1.5 million of that sum to Penn State and State College-related initiatives and charities.