Posted on 07/19/2006 9:56:21 PM PDT by NormsRevenge
An undisclosed number of UC executives will share $770,000 in pay raises to be discussed today behind closed doors by a key committee of the University of California Board of Regents.
It will be the second round of pay hikes for some of the senior managers, who got an average 2.5 percent annual salary boost in November. ...
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The names of those in line for the raises were not disclosed. ...
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Because UC officials refused to release specifics on the pay package, it is unclear exactly how many of the university system's 300 top executives -- chancellors, vice chancellors, deans and other officials -- who got raises in November will receive another increase. ...
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Among those who could get a raise is UC President Robert Dynes, who received a raise in November, to $405,000.
The regents' agenda says that the executive raises will come from a pool of money allocated in fiscal 2005-06 for 4 percent increases. In November, 2.5 percent of the pool was used to give the top managers merit increases retroactive to Oct. 1 and the remaining 1.5 percent of the pool is now being allocated for equity increases.
Schwartz said the increases are just the "balance" that was due the executives in November but was withheld because of "the issues/questions" surrounding the senior management group's compensation.
In November, The Chronicle reported that the university paid thousands of employees, including executives, much more than it reported to the public or the Board of Regents.
(Excerpt) Read more at sfgate.com ...
U.C. is funded by taxpayers. Its records should be absolutely public.
Is this over and above the sweetheart mortgages the faculty and staff are receiving?
Yes. It appears so.
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