Jack Lew got “unusual” exit bonus on leaving NYU (NYTimes)

Obama’s Treasury Nominee Got Unusual Exit Bonus on Leaving N.Y.U.
By DANNY HAKIM
Published: February 25, 2013

The payment, which a university official acknowledged on Monday, is considered unusual by outside experts in benefits and raises questions about why a tax-exempt university would give a large exit bonus to an executive who was departing voluntarily.

The payment was not disclosed in the university’s publicly available tax records, and it is receiving scrutiny from Senate Republicans as they consider Mr. Lew’s nomination, which is expected to come up for a vote in the Finance Committee on Tuesday.

At the time of his departure, Mr. Lew had been executive vice president at N.Y.U. He had typically earned $700,000 to $800,000 a year since his hiring in 2001, and sometimes more, according to the university’s tax records.

Read more.

Leave a Reply

Your email address will not be published. Required fields are marked *