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Higher Ed Bubble Dipping

From the Daily Camera:

The University of Colorado filled three key administrative posts — including the Boulder campus’s chief financial officer — with retirees who are limited to working 140 days a year, but who receive nearly a full salary from the university plus pension payments from the state retirement fund.

For example, Ric Porreca, 53, senior vice chancellor and chief financial officer, retired on Feb. 28, 2011, and was rehired to the same post on April 1, 2011. He’s now eligible for roughly $500,000 in combined CU salary and pension payouts for working the equivalent of seven months a year.

This strikes me as way too young to be making that kind of retirement money while drawing that kind of salary, both on the public dime. ┬áDidn’t we learn anything about “specialized skill sets” from the rush to hire Turbo-Tax Tim?

Posted in Business, Culture.

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