Thursday, March 11, 2010

U of I trustees vote to pay outgoing chancellor $273K

The University of Illinois board of trustees voted Wednesday to give Richard Ringeisen, the retiring chancellor of the Springfield campus, a one-year paid administrative leave after he steps down Oct. 31.

The arrangement, in which Ringeisen will be paid $273,500 but not have any job responsibilities, is a change to what was proposed last week. Under the former deal, Ringeisen would have kept his salary for 14 months while serving as a consultant to the president.

Ringeisen, 65, asked for the change, said spokesman Tom Hardy.

The agreement was featured in a March 10, 2010, Chicago Tribune Breaking News article.

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