Current through Register Vol. XLI, No. 50, December 13, 2024
Section 133-5-4 - Compensation4.1. The Commission shall approve the total compensation of a president, from all sources, before the compensation becomes effective. Forms of compensation which require prior approval include: annual salary derived from whatever funding source, deferred compensation, and housing or vehicle allowances. The governing board may require approval of other compensation such as non-State funded discretionary funds, compensation from other employment or for service on a corporate board of directors, and payment of dues or assessments for membership in non-professional related clubs or associations. The governing board shall report to the Chancellor any such compensation received by the president. If the governing board and the president are seeking approval of deferred compensation, the institution shall submit an actuarial report to the Commission detailing the present cash value of the deferred compensation and conditions for eligibility or receipt of the deferred compensation.4.2. The governing board shall base the president's total salary from all funding sources on a comparison of the presidential salaries at comparably sized State institutions of higher education with similar missions, or other national data sources which may be utilized by the governing board, as appropriate, to establish salary ranges.4.3. If the governing board and the president are seeking Commission approval of a presidential salary increase in a percentage in excess of the average percentage salary increase for all personnel at that institution within the last calendar year the governing board shall submit to the Commission its detailed rationale justifying the increase. If the percentage increase is exactly in the ratio of compensation increases allocated to all institutional employees, the governing board shall notify the Commission of the increase, but the Commission is not required to approve or confirm it.4.4. If an institution provides a president a housing allowance instead of housing, the housing allowance may not be considered part of the president's base salary for the purposes of Section 4.2 above.4.5. Annually, the Chancellor shall make available to the governing boards and Commission the most recent College and University Professional Association for Human Resources (CUPA-HR) or other comparable salary data applicable to their institutions.