KNOXVILLE – The University of Tennessee Board of Trustees has approved bonuses and raises for administrators, including the campus chancellors and UT President Joe DiPietro.
The Knoxville News Sentinel reports at a Friday meeting, the board approved a new compensation package for DiPietro through 2019. It includes 5 percent annual base pay increases if his performance is satisfactory to the board. It also includes annual bonuses of up to 25 percent of base pay and increases in housing and expense allowances.
In total DiPietro will receive up to $696,802 in compensation this year as well as $186,301 in retention bonuses for his performance the past three years.
The board also approved new annual performance-based retention bonuses for all board-elected university officers. The maximum payout will be 15 percent of base salary, except for DiPietro.
Chancellor Jimmy Cheek received a 3 percent base pay increase to $447,492 and a retention bonus for performance from July 2012 to June 2015 of $158,098.