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OHIO STATE PRESIDENT
Ohio State says it will save millions on ex-president Gee's retirement deal as he moves to WVU
Reported by: Associated Press
Friday, April 18, 2014 5:33 PM EDT
Ohio State University expects to save millions of dollars because former president Gordon Gee is giving up part of his retirement package as he becomes president of West Virginia University.
A spokesman said Friday that Ohio State anticipates saving about $4 million because its obligation to meet some of those terms ends when Gee becomes WVU's president this summer. Gee has been interim president there for months.
The move doesn't change Ohio State's $800,000 payment to a retirement plan for Gee's benefit. His deal also provides lifetime health insurance benefits when he's not employed elsewhere.