Budget Amendment ID: FY2018-S3-90

EDU 90

Pension Benefits Review

Messrs. Tarr, Ross and O'Connor moved that the proposed new text be amended by inserting after section__, the following new section:-

Section__. The Auditor of the Commonwealth in consultation with the Secretary of Education and the Board of Higher Education, shall conduct an investigation and review of the compensation and pension benefits of chief executives and administrative staff of public institutions of higher learning funded by the Commonwealth, for the purpose of determining the levels of such compensation compared to similar institutions within the Commonwealth and those in their respective cohorts in the region, provided that said analysis shall include regular compensation, paid vacation, sick leave and other benefits.

Subsequent to such investigation and review, the Board of Higher Education shall establish benchmarks and standards for all forms of such compensation.

The results of said investigation and review, together with developed benchmarks, shall be reported to the clerks of the House and Senate not later than December 31, 2017.