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UNC System Limits Golden Parachutes

UNC System Limits Golden Parachutes
January 11, 2010

The University of North Carolina System Board of Governors has adopted new limits on "retreat rights," payments to departing campus chancellors to help them adjust to a return to teaching, The Charlotte Observer reported. Some political leaders in the state have been outraged by reports that some officials have received these payments -- based on their senior administrative salaries -- and then retired rather than returning to teaching. The new rule limits payments to six months at the salary of a faculty member in the department where the former administrator is returning. Until now, the payments were at the level of the administrative salary and could extend up to a year. In addition, a department chancellor who takes the money but doesn't return to teaching will need to repay it. Similar policies are now being considered for provosts and vice presidents.

 

 

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