Ohio State’s Board of Trustees approved a 2 percent increase to President E. Gordon Gee’s salary, performance compensation bonus and retirement plan package in 2012, adding up to $1.9 million.
The Board of Trustees met to discuss Gee’s annual performance evaluation Friday. The Board gave Gee a positive evaluation based on his various achievements, including recruitment of top talent, constant advocacy for the University, and solidified relations with the state, said Dr. Janet Reid, chair of the Compensation and Talent Development Working Group.
Gee’s allotted compensation was based on his past year’s performance, the president’s current ranking among other university presidents, OSU’s economic condition and the economic situation in the State of Ohio and compensation increases among all university faculty and staff, Reid said.
The Board motioned and approved of Gee’s pay raise increase and bonuses. Gee’s compensation is to include:
• A 2 percent increase of his salary of $16,363, which is based on an evaluation. The increase would make his total salary $834,530 in 2012.
• A performance-based compensation bonus of $143,179, which is a bonus equivalent to 17.5 percent of his base salary.
• A deferred compensation of $225,000 annually. He’s also eligible to receive a retirement plan credited up to $616,635 and benefits of $100,500. However, Gee can only receive these amounts after a completion of term, according to a Board of Trustees report.
Reid said the bonus will not be paid by Ohio tax dollars or student tuition, but by the Academic Excellence Fund, a fund to assist recruitment for academic leaders and funded by private donations, and other private funding sources.
Reid said President Gee has earned the bonus and increase based on his achievements and leadership.
“Ohio State University is an outstanding institution because of Dr. Gee’s leadership. He’s truly a visionary leader who adeptly handles the breath complexity and demands of the job,” Reid said.
