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Tauzin farewell paycheck at PhRMA reaches eight figures

Latest IRS tax document reports that Billy Tauzin’s salary for 2010 is the second highest ever reported for an association executive

December 2, 2011

By Mark R. Graham

In Billy Tauzin’s last year as CEO of the Pharmaceutical Research and Manufacturers of America, the former U.S representative from Louisiana earned $11,578,956—, one of the highest payouts ever for an association CEO.

The group, which filed its latest IRS disclosure Nov. 11, reported paying Tauzin $1.1 million in base pay, a $1.2 million bonus and $9.2 million as “other reportable income,” a category that can include supplemental executive retirement plan (SERP) payouts, severance payments and awards based on length of tenure. Tauzin, who became PhRMA CEO in January 2005, stepped down in June 2010.

“It was not categorized as severance,” said Matt Bennett, senior vice president, communications for PhRMA.
Analysis of PhRMA’s tax documents for the last five years shows the bulk of the “other” $9.2 million figure is unlikely to be a SERP payment, because previous years’ filings do not show significant amounts of undistributed deferred pay.