More College Presidents Join The Millionaires' Club
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Title : More College Presidents Join The Millionaires' Club
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Title : More College Presidents Join The Millionaires' Club
link : More College Presidents Join The Millionaires' Club
news-today.world | The chief executives of 59 private colleges and seven public universities took home more than $1 million in total compensation in 2015, according to an analysis released this week by The Chronicle of Higher Education.
Besides being eye-popping — and a record — the figure is notable for another reason: Congressional Republicans are trying to target this millionaires' club with a special tax. Under proposals in both the U.S. House and Senate, tax-exempt organizations would pay a 20 percent excise tax on the salaries of their five top earners, provided those employees earn in excess of, you guessed it, $1 million.
Six of the Chronicle's top 10 list are one-offs: presidents who earned large retirement, severance or deferred-compensation packages. Deferred compensation means money that is put aside each year and is vested, or paid in full, after a certain number of years of service.
For example, Nathan Hatch of Wake Forest University tops the list after receiving more than $4 million in 2015, though this includes the vesting of 10 years' worth of deferred compensation, the school's press office confirmed to NPR. In 2014, Hatch received just over $1 million.
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Besides being eye-popping — and a record — the figure is notable for another reason: Congressional Republicans are trying to target this millionaires' club with a special tax. Under proposals in both the U.S. House and Senate, tax-exempt organizations would pay a 20 percent excise tax on the salaries of their five top earners, provided those employees earn in excess of, you guessed it, $1 million.
Six of the Chronicle's top 10 list are one-offs: presidents who earned large retirement, severance or deferred-compensation packages. Deferred compensation means money that is put aside each year and is vested, or paid in full, after a certain number of years of service.
For example, Nathan Hatch of Wake Forest University tops the list after receiving more than $4 million in 2015, though this includes the vesting of 10 years' worth of deferred compensation, the school's press office confirmed to NPR. In 2014, Hatch received just over $1 million.
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You are now reading the article More College Presidents Join The Millionaires' Club With link address https://newstoday-ok.blogspot.com/2017/12/more-college-presidents-join.html