IOWA CITY, Iowa — The state Board of Regents has approved a retirement deal for university president Sally Mason.
It includes a provision that was part of her original contract that expired in 2012. That provision allows her to stay employed as a faculty member with a salary equal to 60-percent of her salary as president. That works out to $315,000.
During Mason’s first year, she has no obligations and no teaching duties. In addition to the paycheck, Mason will also have an office and secretarial staff for the year.
Regents president Bruce Rastetter says these things were agreed to in Mason’s original contract.
“We’re really pleased with the outcome of being able to have that be very good for President Mason in terms of her announcement, her goals to finish out her term as president and our opportunity to hire a great new president as well,” says Rastetter.
Rastetter hopes the university will hire a new president by mid-September.