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Rail News: Passenger Rail
Utah Transit Authority exec compensation within market norms, report says
The Utah Transit Authority (UTA) on Wednesday released the results of a compensation report, which found that cash compensation, health benefits and paid leave for executive-level staff were within market norms.
However, executive retirement benefits were found to be above market norms, which prompted UTA's board to eliminate the 401(a) Asset Management Plan for executives.
Cash compensation for the agency's president was lower than market norms, according to a report summary. The president's health benefits, retirement plans and paid leave were found to be within market norms, however.
Prior to the report, the agency had begun capping performance incentives for administrative employees to four percent of their base salary, with a maximum amount of $7,500, UTA officials said. Additionally, any performance incentive exceeding $8,000 requires board approval.
The report follows an earlier performance audit of the agency that questioned executive salaries and some of the UTA's business practices, according to the Deseret News.
Contact Progressive Railroading editorial staff.