Mason gets 3 percent raise, ISU and UNI leaders defer

University of Iowa President Sally Mason will get a 3.3 percent pay raise this year, her first bump in base salary since joining the UI in 2007.

Iowa State University President Gregory Geoffroy and University of Northern Iowa President Ben Allen declined increases to their base salaries, though all three presidents will see increases to their deferred compensation packages. The changes were approved unanimously by the state Board of Regents during a meeting in Ames Thursday.

The board also scrapped the performance incentives for the university presidents, and instead redirected that money to the university leaders via deferred compensation payments, which reward longevity. That change gets rid of any confusion about the former performance incentives, and eliminates ambiguity and subjectivity about the payment of that money, regents President David Miles, of West Des Moines, said.

“People didn't understand that was related to performance and tended to view it as somehow less appropriate,” Miles said of the incentives.

The performance incentives were put in place in August 2008, but the presidents did not receive them last year due to budget cuts. They also didn't receive salary increases last year.

The total compensation available to the three presidents remains the same in fiscal year 2011 as it was in fiscal 2010, it is just distributed in different ways, Miles said.

Mason's base salary increases from $450,000 to $465,000, and her deferred compensation package increases to $125,000 annually.

Geoffroy's base salary remains $423,316, and he will get a new three-year deferred compensation package worth $125,000 annually. His previous five-year deferred compensation package matures Jan. 1, 2011, and he will get that cash payment if he is still ISU's president on that date.

Allen's base salary remains $320,000. His deferred compensation package, which matures July 1, 2012, increases to $50,000 annually.

The presidents did not get raises last year and in fact took pay cuts, Miles said, due to furloughs and forgoing the performance incentives. The board wanted to restore some of that, he said.

“This is not a time for significant increases, but we do need to acknowledge the hard work that has been put in by our presidents,” he said.

The three presidents are at the median level for compensation compared to peers, Miles said. The board spent Wednesday in closed session evaluating the institution leaders.

Regents Executive Director Bob Donley will get a 2 percent salary increase, to $147,900, and the board created a new performance incentive of $5,000. Iowa Braille and Sight Saving School Superintendent Patrick Clancy will get a 2.5 percent salary increase, to $133,250, and a new three-year deferred compensation agreement for $20,000 per year. Iowa School for the Deaf Superintendent Jeanne Prickett's salary remains $135,674, and her existing deferred compensation package will continue.