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.
A former 5th-grade teacher, Brogan became a Martin County schools superintendent who surprised many by being elected to the then-Cabinet post of Education Commissioner as a Republican.
Brogan left that post to become lieutenant governor under former Gov. Jeb Bush before leaving for FAU, where he was president from 2003-09.
While a state officeholder, Brogan at times was talked of as a possible candidate for governor, or U.S. senator.
On Wednesday, he offered a “never say never” when asked about a possible return to politics in Florida.
In Harrisburg, Brogan and his family expect to move into a chancellor’s house owned by the Pennsylvania State System of Higher Education, overseeing 14 universities and 115,000 students.
Florida has 12 public universities and 335,000 students.
Pennsylvania’s largest universities, including Penn State and Pittsburgh, are governed by another body, the Commonwealth System of Higher Education. Instead, Brogan will lead generally smaller schools, including Slippery Rock University, Millersville University and Shippensburg University.