Former MSU president to enjoy lifetime perks - WNEM TV 5

Former MSU president to enjoy lifetime perks

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Lou Anna K. Simon (Source: MSU) Lou Anna K. Simon (Source: MSU)

Michigan State University's Board of Trustees meets on Friday as it looks for a successor to the school's outgoing president.

Lou Anna Simon announced her resignation Wednesday night after the Larry Cassar scandal enveloped the university.

Although she no longer will be president, Simon will enjoy some eye-popping perks in retirement.

Under the terms of Simon's contract, if she returns to the faculty she will get her current salary of $750,000 for two years.

Afterwards, Simon will get 75 percent of her current salary. That amounts to at least $562,000 a year with the potential for salary increases.

In addition, she and her spouse will receive free tickets to men's and women's basketball games, home football games, bowl games and driving and parking passes for all events.

It is important to note Simon has not publicly stated her plans for the future.

Friday's board meeting begins at 1 p.m.

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