In a letter to university president John Sexton, Republican Senator Charles E. Grassley addressed concerns regarding NYU’s compensation structure for administrators.
The senator’s questions stemmed from recently publicized loans and severance payments made to former NYU administrator and recently confirmed Treasury Secretary Jack Lew.
The letter was first published by Nick Pinto, a reporter from the Village Voice. After an anonymous submission popular Facebook page NYU Secrets, the letter has been seen by hundreds in the NYU community and many are voicing concerns similar to the Grassley’s.
Pinpointing Lew’s $685,000 severance payment upon his leave from NYU in 2006 as well as loans made out during his tenure, the letter questions the legitimacy of Lew’s severance payment and highlights the abnormality of the additional benefits Lew received.
Among over a dozen specific requests, the senator has demanded complete documentation of university funded loans, severance payments and signing bonuses made to administrators since 2000. Grassley has asked for a response from the university by March 29.
Senator Grassley raised the issue of Lew’s severance payments on the Senate floor prior to the Lew’s confirmation vote as Treasury Secretary.
University spokesperson Philip Lentz said the University is cooperating with Grassley’s demands, and is providing the documents in a timely a manner as possible.
The senator’s full letter is available below:
