Paterno’s state pension totals $13.4 million

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When you’ve been employed at a state institution for more than six decades, these are exactly the kind of numbers that accrue.

The family of the late Joe Paterno announced Tuesday that the former head coach’s wife Sue will be paid a total of $13.4 million in pension earned by her husband during his nearly 62 years at Penn State.  The family wrote in the statement, by way of the Associated Press, that the eight-figure sum was reached by utilizing “the standard formula for anyone in the State Employees’ Retirement System.”

Paterno’s wife will receive a payment of $10.1 million by the end of this month, with the remainder of the money coming to the widow over the next two years.

In late April, the Paterno estate received a payment of $5.5 million that ended PSU’s contractual relationship with the coach.

The family’s spokesperson said Sue Paterno will donate a total of $1.5 million to “Penn State-related or State College-area charities.”  The Paternos were well-known for their philanthropy throughout their time in State College, including a donation of over $4 million for what would eventually be called the Paterno Library.

After his firing late last year and before his death in January, Paterno also donated $100,000 to the university.

Of the 60-plus years spent with the Nittany Lions, Paterno was head coach for 46 years (1966-2011) and an assistant for the previous 16 years (1950-1965).

Paterno was fired the night of Nov. 9, 2011, in the wake of the Jerry Sandusky child-sex abuse scandal and, a little over a week after his dismissal, was diagnosed with lung cancer.  The coaching icon lost his battle with the disease on Jan. 22 of this year at the age of 85.