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Mulkey to LSU
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[QUOTE="Jackalope, post: 3959209, member: 8"] There is one thing that might have added to the perfect storm of Events. It looks like she might get a very sweet Louisiana state employee pension. She had 15 years of service at Louisiana Tech. Assuming she puts in 5 more years of service at LSU and she had contributed 7.5% of her salary in all the years she spent as a state employee. The retirement formula would be "2.5% times creditable years of service (inclusive of leave credit) times the average salary for your thirty-six highest successive months". Say her new base salary is $2 million and the rest performance bonuses. That would be a $1 million yearly state pension that she only gets if she works at a Louisiana state position! (info from [URL='https://www.lsuagcenter.com/portals/administration/about-us/human-resources/benefits/retirement/louisiana-state-employees-retirement-system-lasers']Louisiana State Employees Retirement System (LASERS)[/URL] ). Alternatively she could be covered by a plan from TIAA, and the specifics of that plan don't seem to be available. Now she also worked 21 years at Baylor and she is over 55. It looks like she will also be covered by a retirement pension from Baylor! Assuming the same type of formula, she might be getting $1 million a year from Baylor. So, go home to Louisiana, work for 5 more years, and then possibly get $2 million a year in retirement from TWO pensions. No wonder she left Baylor! [/QUOTE]
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