California lawmakers rein in exec pay at public universities
September 11, 2009 by FAC
Filed under 1st Amendment News
In response to the $9 million in executive compensation the UC Board of Regents approved this year, the Senate passed legislation Thursday to prohibit future pay raises for top executives at University of California (UC) and California State Universities (CSU) during bad budget years.
September 10, 2009
SACRAMENTO – On a 31-5 vote, the California Senate approved legislation to prohibit executive pay raises during bad budget years at the University of California and the California State University, according to an announcement released by Senator Leland Yee, the bill’s author.
In 2009 alone, the UC Board of Regents has already approved approximately $9 million in executive compensation increases.
At the last Regents meeting in July, several executives were appointed at salaries from 11 percent to 59 percent higher than their predecessors. The Regents also voted to give “administrative stipends” ranging from $24,000 to $58,625 to several employees, without any extra duties, and added several new highly paid executive positions.
All told, the Regents approved nearly $2 million in monetary compensation increases at just one meeting. That is in addition to other forms of compensation including generous pension plans, travel allowances, housing, and access to low-interest loans. UC President Mark Yudof also receives nearly a $1 million in salaries and perks.
Since 2002, top administrators at CSU have also received raises in excess of 23 percent.
“The UC and CSU appear to be tone deaf and continue to disrespect the taxpayers, students, and their low wage workers and faculty,” said Yee. ” The public deserves better.”
Once received, the Governor will have 30 days to sign or veto the bill.
