Barry Alvarez was due for payouts through the start of 2022 as part of an agreement tied to his job as University of Wisconsin athletic director.
He’s still going to cash in despite his retirement from the position at the end of June.
Most of a lump-sum payment to Alvarez totaling more than $1.18 million is from his additional compensation agreement with the UW Foundation and Alumni Association, according to an accounting by a school spokesperson.
But Alvarez banked the maximum amount of vacation time allowed over his 31 years at UW as football coach and athletic director, leaving him with 1,272 hours – more than 31 weeks – of unused leave. He elected for a one-time payout of $301,133, minus withholdings, to cash out that balance.
Alvarez’s deal with the UW Foundation and Alumni Association to supplement his $500,000 annual salary from UW called for a $375,000 lump-sum payment if he was still in the job Jan. 1, 2022. That was in addition to quarterly payments of $168,750 he was to receive July 1, Oct. 1 and Jan. 1, 2022.
All of those scheduled deposits via the additional compensation agreement – minus withholdings – were pooled together for a one-time payment as if Alvarez was still the athletic director into next year. University spokesperson John Lucas said that was because Alvarez had enough banked vacation hours to continue on the payroll through early 2022 if he chose that route.
The $881,250 from the UW Foundation and Alumni Association is private gift funds designated for use by the athletic department, Lucas said. The rest is in line with UW System policies for employees who retire with unused vacation and personal time.
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Alvarez had 1,000 hours of banked leave from 2000, when he became eligible to tuck away unused hours, to 2020. He didn’t use any of his allotted 176 hours of vacation or 40 hours of personal time in the 2020-21 fiscal year that ended June 30. He also had 56 hours of leave carried over from 2019-20.
Alvarez’s total annual salary when he finished a 17-year stint as athletic director June 30 was $1.55 million. He was followed by former deputy Chris McIntosh, who’s making $940,000 in his first year on a contract that climbs $30,000 each year.
