pineinthegrass wrote: The rest of the story is that in many states those coaches are going to get the same public employee pensions that teachers get, meaning they can get a very large percentage of those salaries at retirement for the rest of their lives assuming they put in the years.
I read that the recently retired football coach at Nevada, Chris Ault (not that he was the top salary in the state), is pulling a state pension of a few hundred thousand a year.
And now I see that the ex-football coach and ex-baseball coach at Nevada (the state school, University of Nevada at Reno) get a combined pension of about $500K per year.
Nevada athletics: State pays Ault, Powers about $500,000 annually in retirement
The coaches are grouped with teachers and are eligible for the Nevada state Public Employees Retirement System (PERS). BTW, I only knew about this since I follow Nevada sports, having previously lived there.
It would be interesting to see the breakdown of a state university's source of funds. I know tuition continues to increase, and in some states the lottery funds (at least promised when they were trying to pass the bills) are a "big" source. Those few with big sporting programs are probably getting something from the broadcasting of their games, but perhaps not.
I wonder how much is sourced from an individual's taxes (income, property, sales, other).
When you see how much University of Texas alumni donate to the school when the team wins, this starts to makes sense. The sad thing? All those loser football coaches Colorado hires year after year are getting record payouts for horrible football.
You would think the governors would give themselves the most money, but they are probably getting paid in backdoor deals that the public never sees.
Thomas Sowell: There are no solutions, just trade-offs.
