MnSCU Trustees to Eliminate Bonuses for Executives
ST. PAUL (AP) — The Minnesota State Colleges and Universities system has decided to eliminate performance-based bonuses for its executives.
McSCU trustees approved the decision as part of a compensation plan for administrators.
The change would affect about three dozen people, including the chancellor, vice chancellors and college and university presidents.
Higher education bills in the House and the Senate would prohibit such bonus payments. While MnSCU trustee Phil Krinkie calls the move proactive, he says these incentives are common in business.
But he says the issue of bonuses has been one of contention with lawmakers and the public.
MnSCU gave its executives a total of $548,000 in bonuses in 2012.
Lawmakers must still approve the decision.