McCaskill criticizes lucrative deals for university execs

JEFFERSON CITY, Mo. -- Claire McCaskill on Friday criticized lucrative retirement deals given to university presidents, citing Southwest Missouri State University's package for its outgoing president as the latest example.

President John Keiser is leaving but will keep his salary and benefits for another year in exchange for some appearances and fund-raising work.

McCaskill, the Democratic state auditor, is running for governor in November against Republican Secretary of State Matt Blunt.

McCaskill said the deal is just the latest example of a broader problem.

In 2000, McCaskill released an audit questioning the exit contracts of University of Missouri-Columbia men's basketball coach Norm Stewart and the presidents of Central Missouri State University and Southeast Missouri State University, Ed Elliott and Dale Nitzschke. She said those deals offered significant financial rewards without adequate accountability and performance standards.

Nitschke's contract was renewed for one year by the Southeast board of regents last month. Southeast officials said Nitzschke has been instrumental in obtaining millions of dollars in federal funding.

Central Missouri initially offered Elliot a three-year, $621,000 contract, including travel money and other benefits. The university later voided the contract.

If elected governor, McCaskill said, she would appoint people to college boards to serve as a watchdog for the taxpayers.

Blunt said such decisions are best left to university officials.

"I think you need to have an understanding of formal contract negotiations between the board and the president, and I'm not sure that she really has all the facts in the situation," Blunt said during a campaign stop in Kansas City.

Under the Southwest Missouri State contract agreed to by its board in June, Keiser will receive his full annual salary of $162,036 along with the benefits he now has as president.

Those include long-term health care, $22,000 in deferred compensation, $11,000 to cover taxes, use of a vehicle and coverage of moving expenses.

In return, Keiser will serve as a consultant to the new president, represent the university at some events and help with fund-raising and alumni events.