Silber's golden parachute from Boston University

Just when I thought that Boston University had finally cut all of its loyalties to former President and Chancellor John Silber, I spot this article in the NYT which says he collected collected $6.1 million last year from the University, two years after he officially stepped down! From the article:

The money includes $3.3 million in deferred compensation from the 32 years that Dr. Silber worked at the university and a house in the Chestnut Hill neighborhood of Boston that university trustees agreed he could live in for the rest of his life. Living in the house was valued at $305,000 a year. The package also includes $770,000 from an unusual arrangement in which the university rewarded Dr. Silber with an extra year's salary for every five years worked.

Boston University has some of the highest tuition rates in the country, effectively shutting out thousands of lower-income kids. The idea that Silber gets lifetime housing and six extra salary payments (for 30+ years of service) is ridiculous. Imagine Larry Summers being able to stay in the mansion on Brattle Street, or collecting an extra year's salary upon leaving Harvard this July 1, while librarians and other staff barely make enough money to live on! Thankfully that won't be happening (although I am sure he wouldn't mind -- the Brattle Street house is really nice!).

However, I am not sure I can dispute Silber's "deferred compensation," as it seems that this was an arrangement based on yearly contributions based on his contract with the University, and it's conceivable that the money could have accrued millions in investment returns and interest.