UNC System President Margaret Spellings is receiving a $95,000 performance bonus from the Board of Governors.

As first reported by The News & Observer, the bonus will be split between a $50,000 cash sum and $45,000 deposited into a retirement account for Spellings. The amount was decided after the board’s presidential meeting committee concluded that Spellings had met or exceeded expectations, according to board chairman Lou Bissette.

Three board members dissented on the vote – former state legislators Thom Goolsby and Robert Rucho, and Tom Fetzer.

Spellings was previously awarded a $90,000 bonus last year under the same performance bonus criteria. At the time, half of the bonus was placed into a deferred account that would be accessible if Spellings completed the length of her contract. She was hired in 2016 with a base salary of $775,000 on a five-year contract.

“I think this board bit the bullet and said, ‘We want our chancellors to be properly compensated,’” Bissette said last year. “Because they lead our institutions and if we don’t have the best people in those jobs, we’re not going to have the best institutions in the country – which is our goal.”

 

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