Keep in mind that with the progressive tax rates, between the IRS and the NC DOR he'll pay probably around 40% of that compensation in taxes so he'll never even see that portion. And yes, as an ASU employee he does participate in the state retirement system, but that would be true for any other states' university he was hired by. If he was hired by a private university like Notre Dame, Vanderbilt, etc. they would not participate in their state's retirement system but I would imagine that they'd have a comparable (or better) retirement plan in place to recruit and retain the best.
We are incredibly lucky that Coach Satt and his wife love App and so for them it's not just a job, it's a passion. However, if we want to retain Coach Satt, or be able to attract a quality replacement, the most power we as supporters have is funding the Yosef Club, buying tickets and showing up. If he's offered a multi-million dollar position in a strong winning program that's truly on a national stage (which he probably will be), it's going to be awfully tempting if not impossible to resist.
Satt locked in for 5 years!
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Re: Satt locked in for 5 years!
Is there a way to donate to the Yosef Club and designate that the donation would be guaranteed to go to athletic scholarships ONLY?Rick83 wrote:Keep in mind that with the progressive tax rates, between the IRS and the NC DOR he'll pay probably around 40% of that compensation in taxes so he'll never even see that portion. And yes, as an ASU employee he does participate in the state retirement system, but that would be true for any other states' university he was hired by. If he was hired by a private university like Notre Dame, Vanderbilt, etc. they would not participate in their state's retirement system but I would imagine that they'd have a comparable (or better) retirement plan in place to recruit and retain the best.
We are incredibly lucky that Coach Satt and his wife love App and so for them it's not just a job, it's a passion. However, if we want to retain Coach Satt, or be able to attract a quality replacement, the most power we as supporters have is funding the Yosef Club, buying tickets and showing up. If he's offered a multi-million dollar position in a strong winning program that's truly on a national stage (which he probably will be), it's going to be awfully tempting if not impossible to resist.
NewApp formerly known as JCline
If you can't take it, don't dish it out.
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If you can't take it, don't dish it out.
Google SUX
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Re: Satt locked in for 5 years!
If Satt's finances are any concern by the time he's at retirement age then either his career has gone badly wrong or he's terrible with money.