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Brogan’s early exit means he’s no longer a million-dollar man

by John Kennedy | August 9th, 2013

State University System Chancellor Frank Brogan, a former Florida Atlantic University president, acknowledged he would “take a hit,” with his move to a similar job in Pennsylvania.

He’s taking a salary cut: from $357,000 to $327,500 a year.

But the 35-year government employee will find the pay reduction cushioned by $16,029-a-month in pension payments once he leaves the Florida system Oct. 1, according to the state’s Department of Management Services, which oversees the Florida Retirement System.

Brogan’s departure is a mixed bag. Three years ago, Brogan enrolled in the Deferred Retirement Option Program (DROP) and had been in line for a one-time payout of $1.1 million if he completed the program’s five-year wind-down of his career.

By leaving two years early, Brogan instead gets the monthly pension for two years, then a $622,109 payment. All told, the longtime educator and one-time lieutenant governor will lose $102,286 off what would have been his million-dollar one-time payout, according to DMS.

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8 Responses to “Brogan’s early exit means he’s no longer a million-dollar man”

  1. bankrupting Says:

    These public servant should not be treated as celbrities.

    They are bankrupting us. Most are corrupt govt rip off artists.

  2. Lane Says:

    Inaccurate Headline Alert: $16,029 * 24 months + $622,109 = $1,006,805. So technically he still is a “million-dollar-man.”

  3. Jon Klokov Says:

    16k a month at 35 from a pension? Good lord.

  4. Jackie Says:

    I don’t think Frank Brogan is a “celebrity”. He went from teacher to superintendent to chancellor all these years for the State of Florida and also picked up time as the Lt Gov for two years, it adds up. He has always stayed with the love of the job as he is will do once again in the State of Pennsylvania. He will get added a pension from there also. As long as the pension process is in place, he has it coming. Good luck to Frank and his family in their new adventure!

  5. grees Says:

    He’s taking a salary cut: from $357,000 to $327,500 a year.

    But the 35-year government employee will find the pay reduction cushioned by $16,029-a-month in pension payments once he leaves the Florida system Oct. 1, according to the state’s Department of Management Services, which oversees the Florida Retirement System.

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  8. celebrity smile Says:

    He needs a million dollar smile

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