MACKINAW CITY, Mich. — Lou Anna K. Simon, the former Michigan State University president charged with lying about her knowledge of Lawrence G. Nassar’s sexual abuse, will be paid more than $2.4 million as part of a retirement deal announced Tuesday evening by the university.

Dr. Simon served as Michigan State’s president during the years that Dr. Nassar, a university employee, sexually abused hundreds of girls and young women, including some of the world’s best gymnasts.

“Our campus community is continuing its healing, and the Board of Trustees feel the retirement of Dr. Simon is best for the university,” Dianne Byrum, the chairwoman of the university trustees, said in a statement.

Fallout from Dr. Nassar’s abuse continues to haunt Michigan State. The university has approved a $500 million settlement for his victims, seen turnover among top administrators and faced persistent questions about how Dr. Nassar was allowed to continue his crimes for so long.