KU’s Chancellor collecting second-largest payout from North Carolina state pension fund
(By Andy Hyland, The Lawrence Journal-World) - In addition to her Kansas University salary, Chancellor Bernadette Gray-Little receives $209,337 annually from a North Carolina pension plan.
The Raleigh News & Observer reported that Gray-Little receives the second-highest pension payment in North Carolina — one spot ahead of former University of North Carolina basketball coach Dean Smith, who receives the third highest.
The top pension benefit goes to former mental health center administrator Charles R. Franklin Jr., who earns a $211,373 annual payment, the newspaper reported.
North Carolina state employees contribute 6 percent of their salary to a pension program, and in return receive compensation after they retire until death. Employers and state and local governments also contribute to the plan.
The benefits are calculated using a formula involving years of service and an employee’s highest average salary during a four-year period.
Gray-Little, 65, worked at UNC for 38 years, rising through the ranks, eventually becoming provost and executive vice chancellor. She was paid $350,000 annually in her last position.
Heather Franco, a North Carolina state treasurer spokeswoman, said out-of-state employment has no bearing on the pension.
The Raleigh News & Observer reported that Gray-Little receives the second-highest pension payment in North Carolina — one spot ahead of former University of North Carolina basketball coach Dean Smith, who receives the third highest.
The top pension benefit goes to former mental health center administrator Charles R. Franklin Jr., who earns a $211,373 annual payment, the newspaper reported.
North Carolina state employees contribute 6 percent of their salary to a pension program, and in return receive compensation after they retire until death. Employers and state and local governments also contribute to the plan.
The benefits are calculated using a formula involving years of service and an employee’s highest average salary during a four-year period.
Gray-Little, 65, worked at UNC for 38 years, rising through the ranks, eventually becoming provost and executive vice chancellor. She was paid $350,000 annually in her last position.
Heather Franco, a North Carolina state treasurer spokeswoman, said out-of-state employment has no bearing on the pension.
posted by BP News Bureau | 12:00 PM
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