State Affairs and Government
Quasi-Public Corporations Accountability and Transparency Act
§ 42-155-5 Executive compensation.
(a) Each quasi-public corporation shall establish a committee on executive
compensation, comprised solely of board members, that shall:
(1) Recommend to the full board the compensation packages of
the executive and senior management of the corporation. The compensation
package of the executive officer shall be based on a comprehensive and
objective analysis of comparable compensation of similar officers of state
government, other authorities, quasi-public corporations, and private-sector
employees with similar functions and responsibilities. The committee may retain
a consultant to assist in the comparability study. When calculating
compensation, the committee shall consider the value of the retirement plan in
the overall compensation package;
(2) Prepare clear, written job descriptions and clear,
written expectations of job performance for the executive officer and senior
(3) Conduct the job performance review of the executive
officer at least annually; and
(4) Negotiate the employment contract of the executive
officer which shall be approved by the full board during an open meeting.
History of Section.
(P.L. 2014, ch. 482, § 1; P.L. 2014, ch. 509, § 1.)