Link to CCU Home Page
Link to Quick Links
Link to Search Link to CCU Home Page
News Releases
spacer image
 
October 23, 2014   
Posted: July 25, 2012
Coastal Educational Foundation approves funding for CCU President’s retirement annuity

The Coastal Educational Foundation (CEF) Board of Trustees approved a measure to fund a retirement annuity for Coastal Carolina University (CCU) President David DeCenzo in its meeting today. The fund, totaling $1 million, fulfills President DeCenzo's 10-year employment contract of July 11, 2011, and came to the CEF at the request of the CCU Board of Trustees. In order to receive the annuity, DeCenzo must remain employed as president of CCU until June 30, 2021.

In a letter to the CEF, Wyatt Henderson, chairman of the CCU Board of Trustees said, "The Board is pleased with CCU's progress during Dr. DeCenzo's presidency and feels that CCU's best interests are served by retaining Dr. DeCenzo to continue as president." The CCU board studied total compensation packages of universities comparable in size, mission and complexity to develop the annuity plan.

CCU administration requested a formal opinion from the South Carolina Ethics Commission, which ruled that the "CCU Board of Trustees may fund the president's annuity from Coastal Educational Foundation funds." The S.C. Salary Commission of the S.C. Budget and Control Board also noted that supplements and compensation for university presidents are commonly funded through foundations.

"CCU's board appreciates the support of the Foundation through funding this retirement annuity," said CCU trustee Larry Biddle, who attended the CEF meeting. "It provides the kind of retention opportunity we need to ensure the continuity of our leadership during this time of dynamic growth."

For more information, contact Martha Hunn, the University's director of news and public affairs, at 843-349-2962.

Search Options:
Select Specific Year(s):
2014 2006
2013 2005
2012 2004
2011 2003
2010 2002
2009 2001
2008 2000
2007
View ALL Archived News
 
Link to CCU Home Page
University Policies | Site Policies | Contact Us
© 2014 Coastal Carolina University | P.O. Box 261954, Conway, SC 29528-6054 | +1 843-347-3161