Would it? The retirement contributions come from the employee's unit (athletic department), but the pension returns are, as far as I know, paid by a more general fund that all units get charged on covering shortfalls. 

I just hope they fixed the issue with Belloti's retirement, where he made contributions according to his low base salary, but received benefits based on all the extra sources of income. So it compounded the inability of PERS Tier 1 to make the guarantees by only contributing a fraction of what was supposed to be contributed!