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CALIFORNIA NEWS
Cal State OKs new policy to fund executive raises
Posted: May 9, 2012 11:37 AM by The Associated Press
Updated: May 9, 2012 11:38 AM
LOS ANGELES (AP) - The California State University board of trustees has approved a move to ask campus foundations to pay for raises of up to 10 percent for incoming campus presidents.
The board voted Wednesday to amend its executive compensation policy so taxpayers will not fund raises for new presidents.
The move is designed to quell criticism that the 23-campus system's highest-paid employees were getting 10 percent raises while students are being asked to pay more in tuition and faculty's pay is frozen.
However, critics countered that campus presidents should not be getting raises at all in such a bleak economic climate.
Under the new policy, campus nonprofit groups will be asked to raise funds specifically to pay for the salary hikes so money would not be diverted from scholarships.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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