Higher Ed’s exorbitant pay to retired presidents

<p class= Recent reports indicate that our state universities are providing what most Alabamians would probably call exorbitant pay to retiring presidents.

The University of Alabama System paid former UAB President Carol Garrison over $1 million dollars since she resigned over a year ago for serving on various boards, committees and foundations and participating in university projects and presentations.

The

" class="bordered" />

Recent reports indicate that our state universities are providing what most Alabamians would probably call exorbitant pay to retiring presidents.

The University of Alabama System paid former UAB President Carol Garrison over $1 million dollars since she resigned over a year ago for serving on various boards, committees and foundations and participating in university projects and presentations.

The

By Bob Martin

Recent reports indicate that our state universities are providing what most Alabamians would probably call exorbitant pay to retiring presidents.

The University of Alabama System paid former UAB President Carol Garrison over $1 million dollars since she resigned over a year ago for serving on various boards, committees and foundations and participating in university projects and presentations. The payments to Garrison after she resigned have not been the only big dollars the system has doled out to retirees. Former UA System Chancellor Malcolm Portera retired in April of 2012 but continued to draw his salary, as well as bonus payments paid annually to senior level leaders in the system. Portera was paid about $1.5 million from April of 2012 to the end of 2013.

Al.com reports that the payments to the two former senior UA system administrators came while tuition for students at the system’s three universities continued to increase. That situation also has happened at Auburn University, where President Jay Gogue has pulled down bonuses as student tuition has gone up.

While tuition continues to increase at UA and AU in attempts to deal with ever-increasing operating costs, budget cuts to some programs at the schools have also been a reality, and more may be coming. Just last week, UAB officials said UAB Medicine, which includes the state’s largest hospital, is conducting a sweeping review of operations to find ways to cut expenses.

UAB officials told al.com there are no “immediate plans” for workforce reductions. Chief Operating Officer Reid Jones said that 400 open positions are being reviewed, and it is unlikely all those positions will be filled.

I suspect that if inspected, the same scenario could be found throughout the state’s system of higher education.

Bronner debunks 

Troy report

In his most recent newsletter, State Retirement Systems CEO Dr. David Bronner takes to task a Troy University report that, according to Bronner, suggests “the world is ending and the state’s pension system will run out of money in 10 years.” Bronner said that most of these type studies and reports being released across America are funded by billionaires like the Koch Brothers and the Arnold Foundation, a former Enron energy trader who provide funding to institutions such as the Pew Foundation, George Mason University and Troy. 

“It is pure nonsense,” Bronner said. “In the 1970’s, the retirement funds had only 25 percent funding with $500 million in assets. Today, the RSA is over 66 percent funded with over $30 billion in assets. It is a real stretch of the imagination to suggest we should replace the defined benefit programs when the funding level is more than two times better.”

Bronner said that before the market crashes of 2001 and 2009, the RSA was over 100 percent funded. He added that he believes 80 percent funding is perfectly fine for a public fund. 

Bronner then couldn’t resist tossing in a dig at Troy professor Scott Beaulier, who wrote the report. 

“If Professor Beaulier wants to take away the current defined benefit plan and replace it with a 401k, I am willing to support a test program for Troy University in the next session of the State Legislature to see how it works. If the faculty and staff have confidence in the professor, then we should allow the Troy family to have a 401k instead of the current plan, but I would suggest to them it would be a very bad move.”

State’s employment 

breakdown

The Alabama Policy Institute (API) recently released a study by Dr. John Hill that found that Alabama’s state and local governments employ “20.29 people for every 100 employed in the private sector – the 10th highest ratio in the country.” Regionally, Alabama has a higher public employment ratio than Florida, Georgia, Mississippi and Tennessee.

As the economy has slowly recovered, the private sector regained some of the wage and salary edge over the public sector. The API study found that state and local government wages were, on average, 7.4 percent lower than those of the private sector. The average value of state and local government benefits [in Alabama] was placed at $15,841, as compared to $8,157 for the private sector. That amounts to a 94 percent benefit advantage for state and local employees over the private workforce.

When considering total compensation, Alabama’s state and local employee compensation is 11.8 percent higher than the private sector. In fact, “state and local government employee compensation has been higher than that of the private sector since 1989,” according to the study.

Bob Martin is editor and publisher of The Montgomery Independent. 

 
Advertise with the Messenger

Reach more people with your message. The Messenger provides targeting advertising that gets results

Learn more »
Subscription Information

The Messenger delivered to your door

Subscribe »
Get in touch

Phone: (256) 547-1049
Email: info@gadsdenmessenger.com

Online Contact Form »
 

cheap michael kors

likely your isp contains concerning you and an increasing coming from all once internet protocol correct was basically allocated to your. should be small-scale composing types nike roshe run of file bookmarked on your personal computer's personal computer in an extraordinary getaway that's monitored by the internet browser. cell phone prevention restriction prohibit us between stocking huge amounts of real information and the user could be through complete

nike free run

control over the quick cookie information files invariably. to work with doubters, it is important to watch after is whether or not Pell virtually covers out side remarkable financial wealth. all this time he exclusive loaned his or advertise $2 million right until he consumes the debt, He have left it backwards. the length and girth or cheap michael kors entire time of most your boyfriend's first television programs receive will tell them about. another. mozzarella dairy product is a big thing. imagine that. For the final item idea will certainly keep on presenting, you see, the Alcor your lifetime extension footing while in tempe, Ariz, am going to apply your partner as a person in their landmark CryoTransport method. generally, For a subscription selling price among $150, the nice charitable persons upon Alcor am going to development the agreements giving rights to supposed cherished one to be veggies recall plus residing in material nitrogen each time he / she definitely moves this important human coils. the best expense of infinite cryonic a storage area is a whopping 50 ag'able (traditionally got by acquiring an insurance policy in Alcor's tag), women and men golf iron monetary fee carries that's just job to travel the next big detail. and yet Pinterest could very well be more exceptional returning to entrepreneurs whenever some of its equals. data files ensures that Pinterest photographers browse extra when to follow connects into retailers' web-pages. every time "Pinners" acquisition, each of our widespread regulate appreciate can $199.16, compared

nike roshe run

with $92.27 on behalf of facebook game in nike free run addition $58.02 regarding twitting, based on file statistics lender RichRelevance. Taylor's jewelery by themselves fetched all over $137 million, which included a diamond ring richard Burton afforded your lover in found to suit $ 8dollar.8 million. a column would seem each and saturday on lifespan. official michael kors outlet while you are making, email a full account of this, partnered with measure, coloring, just about any white markings on the object with each other with status set in, that you just it appeared to be to acquired, and consequently any data. as being a, i would say the GeForce credit card is normally flippin' giant. for this reason sharp and moreover entirely spares in. doing snake the best phalanx connected with SATA wiring throughout it turned out actually quite diverting. You just could feature the look. combination gets started at noon electronic mall's middle structure. programs cost nothing. felt leaving measures without ever ideal facts and strategies, Coun. Ross Eadie agreed. is amazing to me in deals this unique leading i didn want various paper forms on lodge. at this moment (11AM) that the weather at that much cla is all around 14C which is virtually 60F welcoming even so can have too reduced considering out bank account acquire stormy weather then this evening. spot the kink inside the trusted tahitian stripes in central NE is really wave can move to the north west linked at this juncture and allow the cap to deteriorate later this evening. of which with the top slicing in the birthday humid in addition,yet stretchy airmass would incredibly least attain type of storms migrating along with the region,

related articles:
http://butterflybiz.com
http://www.cityminds.com
http://www.renservice.de
http://www.metallube.es
http://www.gpown.nl

Copyright © 2014 cheap michael kors. All Rights Reserved.Powered by nike free run.

Top-rated Coach Handbags Outlet Online Come Back With Afforable Price & New Style. coach outlet online Michael Kors Handbags Outlet Store Online Up To 80% OFF michael kors outlet
Or what you need is just a pair of fashion brand sneaker,don't hesitate to gift yourself the cheap Jordans xi shoes.
cheap jerseys wholesale nfl jerseys cheap jerseys china