Albuquerque Journal (Albuquerque, NM)

Tech Chief's Income Boosted.(Final)

Byline: Olivier Uyttebrouck Journal Staff Writer

* New Mexico Institute of Mining and Technology uses private funds to sweeten benefits

A private foundation will buy a $50,000 annuity for the president of New Mexico Institute of Mining and Technology this year, bringing his total compensation to $295,000.

Tech's Research Foundation will provide President Daniel Lopez with a $50,000 annuity each year through 2007 under a contract approved by Tech regents last month.

The contract provides Lopez with a base salary of $235,000 and a $10,000 contribution to his retirement fund paid by the university.

Private-pay arrangements for public university presidents are becoming more common across the country as a way of beefing up compensation, according to The Chronicle of Higher Education. …

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