UConn OKs deferred compensation

Storrs (AP) - University of Connecticut trustees have approved a policy that allows the school to pay the university president and other senior executives deferred compensation.

The policy specifies that the money would come from the UConn Foundation instead of taxpayers.

Deferred compensation is a perk increasingly being used by other colleges and universities to retain their presidents.

The new policy was adopted after trustees gave President Michael Hogan an outstanding performance review, but couldn't give him a raise or bonus because of the state's tight finances.

Trustee Philip Barry told The Hartford Courant that giving deferred compensation was a way to increase the president's compensation without using state money.

Hogan makes $577,500 annually and was given a $37,500 retention bonus, which is written into his contract.