Law, Money & Elder Law: A raise for UM president?

By Monte M. Korn

(The following column is based on an article written by Joseph Lichterman of The Michigan Daily titled “Regents give Coleman 3-percent pay increase” that appeared in the Oct. 14 edition.)

U of M Regents vote to give President Mary Sue Coleman a 3% raise: WOW!!!

Was this raise necessary?

Her total compensation package was $783.850. The 3% raise will result in a $16,605 increase in Colman’s base salary, bringing it to $570,105.

“Aside from her base salary, Coleman received a $100,000 retention bonus, $75,000 deferred compensation, $24,500 in retirement pay and $30,850 in supplemental retirement pay in 2009,” the article reads.

“Coleman also has an account for her business related travel and other operations. In addition, she is given a car and is provided full use of the president’s house at 815 South University Avenue in Ann Arbor.

“According to data published by The Chronicle of Higher Education last January, Coleman was the sixth-highest paid university president in the country in 2009.

“Coleman’s raise comes amid a 2.8-percent cut in state appropriations to public universities earlier this month. In addition, the regents voted in June to raise tuition by 1.5 percent for in-state students – the smallest tuition increase approved in over two decades. In addition, the regents voted in June to approve a 3-percent tuition increase for out-of-state students.”

Monte M. Korn is an attorney practicing law in West Bloomfield, has been a member of the State Bar of Michigan since 1942, and is a member of the Probate and Elder Law Sections of the State Bar.
Monte Korn is the talk show host of “Open Line with Monte Korn” on radio station WNZK am690 every morning at 11 a.m. He can be reached at (248) 933-4334.
The material in the above article is the research of Monte M. Korn. The Detroit, Oakland County, and Macomb County Legal Newspapers have no responsibility therein.

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