Friday, July 12, 2013

Janet Napolitano to be president of University of California System...

wonder what her salary will be??

Let's take a gander of outgoing president Mark Yudof's salary and perks.  And you wonder why college tuition costs are so high?  Let's also not forget the governments meddling in the college loan racket.  Considering all this, I think Napolitano is perfect for the job. /sarc
As UC president, Yudof will receive a compensation package valued at $828,000 in the 2008-09 year, compared to a current package estimated at $790,000 at the University of Texas. (These figures do not include standard retirement plan funding for future retirement benefits for university employees at both institutions.)

The UC compensation consists of the following elements:
  • an annual base salary of $591,084 (compared to current annual cash compensation of $528,860 at the University of Texas). The UC salary falls below the midpoint salary ($606,200) set for this position by the Board of Regents and below the median salary ($644,900) of leaders of similar public and private universities used by the California Postsecondary Education Commission for comparison purposes.
  • as an exception to policy, supplemental pension funding amounting to $228,000 in 2008-09 and varying somewhat each year thereafter. This funding, in combination with normal UC Retirement Plan benefits, is intended to produce a UC retirement benefit comparable to what Yudof would have expected to receive at his present employer. (The University of Texas presently provides Yudof $250,000 per year in supplemental deferred compensation in addition to his base salary and normal retirement benefits.)
  • an automobile allowance of $743 per month or $8,916 per year;
  • university-provided housing, as a condition of employment;
  • reasonable lodging, transportation and other business-related expenses associated with university business prior to his relocation, along with reimbursement of actual costs for packing and relocation of household effects and library;
  • consistent with past practice, if Yudof assumes a UC faculty position immediately after his tenure as UC president, the university will arrange for the relocation of his personal belongings, and he will be eligible for a Mortgage Origination Program loan in order to purchase a primary residence;
  • use of administrative funds for official entertainment and other purposes allowed by policy; and
    standard health, pension and senior management benefits, and standard sabbatical, sick leave and vacation accrual. source

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