Jay Jacobs is hightailing out of Auburn with a lot left hanging on his plate:
Jacobs announced his pending retirement Nov. 3 amid scandals within the softball program, basketball program and a federal lawsuit involving a former track employee. Basketball assistant coach Chuck Person was fired in October following his arrest on six federal bribery and fraud charges in which he allegedly funneled money to the families of players Danjel Purifoy and Austin Wiley. Both players have yet to play a game this season for Auburn and their status for the remainder of the season is unknown.
The softball program was rocked by sexual misconduct allegations, which led to Auburn banning assistant Corey Myers from campus two days before his father, Clint Myers, announced his retirement as head coach in August.
For ordinary mortals in a normal job setting, with a legacy like that, you’d be lucky to leave with the clothes on your back. Neither of those qualifiers appears to apply to Jacobs, though.
Jay Jacobs will never have to worry about money during his lifetime.
The Auburn athletics director, thanks to 30-plus years in the state retirement system, will be paid $540,000 a year in state retirement money when his tenure with the university ends, according to the Florence Times Daily.
The enormous retirement payments have been labeled a “super outlier” by Retirement Systems of Alabama deputy director Don Yancey.
Jacobs will be paid at least $45,000 per month, according to the report.
Jacobs won’t have to worry about money and Auburn won’t have to worry about finding the money to pay him. Thanks, taxpayers of Alabama! You’re a generous bunch.
As we like to say around these parts, nice work if you can get it.
9 responses to “Today, in golden parachutes”
Holy screaming eagle shit.
Truly obscene, for scheduling games, refs and buying uniforms and tv screens, albeit very large ones, he walks away with more than twice the money than than the avg. highest paid professional [anesthesiologist].
I get Saban frankly, who is paid so much largely due to private funds such as Nike chio in, but a pencil pusher at a public government job?
A lot of people need to go to play the Robert Trent Jones Trail to pay that pension.
Gus would say he kicked the dog crap out of the Alabama retirement system.
He probably gets gold plated health and dental, with spousal coverage, too.
The pension is exempt from Alabama state income tax too. Every little bit helps when you are a retiree living on a fixed income.
And that doesn’t even include the hush money.
Oh yes it does, that is mostly what it is comprised of.
Disgusting. The legacy costs of our public institutions will do to Education what they did for Detroit. On the private side the golden parachutes of all the ceos and enabling board members are just as bad.
Put people in charge of their own compensation and retirement benefits and don’t be surprised if those items come in on the high side with lots of perks.
It ain’t their money so why the hell not.
Even The Bagman is blushing at that!