Following the BOR meeting on 6/10, I received a number of inquiries regarding the change to the President's compensation. Confidentiality rules prohibit me from reporting on any discussions during closed session, but I can provide some facts from the open session of the meeting:
1. The President will not be receiving a raise or a bonus for 2010-11.
2. The Board voted to change the President's compensation package by adding $25,000 to the President's retirement annuity for each year that he remains in the position beyond the age of 62. MSU will continue to hold the principal (as it does with his current annuity), and Dr. Andrews will only receive the interest from from this annuity after his retirement.
3. I voted against this motion, stating in the open meeting that I do not believe it appropriate to increase the President's compensation package given the current fiscal situation of the University.
I wanted you to know the facts. Other than stating these simple facts, I do not have any comments to offer, since I prefer to let my public statement and vote express my opinion.
Ron
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1 comment:
What type of bonus does the President receive for enrollment? How much did he get last year?
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