Penn State president gets raise of $85,000
Pennsylvania State University president Rodney Erickson has received a performance-based pay raise from the university, boosting his salary by $85,000.
Pennsylvania State University president Rodney Erickson has received a performance-based pay raise from the university, boosting his salary by $85,000.
The board of trustees authorized a salary increase for Erickson from $515,000 to $600,000 annually, effective Nov. 1.
The raise was enacted on the first anniversary of Erickson's being named president.
"President Erickson has done a tremendous job leading our university through a difficult year - one of the most difficult in the history of Penn State," board chairwoman Karen Peetz said.
Embattled former president Graham B. Spanier was paid more than $3.2 million in taxable income last year, including nearly $2.5 million in a severance package triggered upon his firing when the Jerry Sandusky child sex-abuse scandal broke. The amount also included his $700,000 salary.
Also Wednesday, the man likely to take over as chairman of Penn State's board of trustees said he would do all he could to help unite the university.
Vice chairman Keith Masser said Wednesday he planned to run for the chairmanship in next month's board elections.
Peetz announced Tuesday she would not stand for reelection for another one-year term because of time demands at work. She has been promoted to president of the Bank of New York Mellon effective Jan. 1.
Masser owns a potato-farming company in Schuylkill County.