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UNC-Chapel Hill to compensate Folt $520K, benefits

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CHAPEL HILL, N.C. (AP) - The incoming chancellor of the country's oldest public university will enjoy several benefits beyond her $520,000 annual salary when she moves from the Ivy League to North Carolina this summer.

The terms are included in an agreement Dartmouth College interim president Carol Folt signed last month and that the University of North Carolina released Thursday. Folt was picked last month as the first female chancellor of UNC-Chapel Hill. She replaces Holden Thorp, and will start by July 1.

She must live in a Chapel Hill home provided by the university, with utilities, housekeeping, maintenance and grounds-keeping paid. Folt also is entitled to a car, health insurance, retirement benefits and leave.

A database of university employees lists more than a dozen Chapel Hill medical school professors with higher salaries that Folt's.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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Good work if you can find it

Life is tough
$520K per year
Paid medical
Car
Free living quarters
But what gets me is the retirement. Most state government employees have to wait to be vested. I don't think this is the case here.
66% of her salary is $342K per year.

This all appears to be upfront, but I hope I am wrong.
I'm all for attracting good candidates but they are playing too fast and loose with the state benny's and retirement......

Vog