Oct. 25, 2002
Clemson’s Board of Trustees approved on Friday a retirement plan that finalizes the university’s six-year employment contract with Athletics Director Terry Don Phillips.
Clemson President James F. Barker said the retirement plan was an important component of the compensation package because it provides incentive for Phillips to remain at the university for at least six years. If he leaves before then, he will not receive any contributions from the plan.
“Our goal at the beginning of the search for a new director of athletics was to find and recruit the best person for the job, which meant we would conduct a nationwide search,” Barker said. “The decision to conduct a national search indicated a commitment to offering a compensation package that was reasonable and competitive in the current market.”
Barker noted that Phillips did not improve his financial situation by coming to Clemson. “However, in the long run, Clemson can offer greater professional opportunities and other intangible benefits,” he said.
As an auxiliary, the athletics department is self-supporting, meaning it generates revenue to cover all of the department’s operating costs. No state-appropriated funds or student revenue fees are used to pay for staff salaries or operating expenses.
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