TMCnet News
Hospital CEO receives $600K a yearMar 27, 2011 (El Paso Times - McClatchy-Tribune Information Services via COMTEX) -- Jim Valenti, who runs University Medical Center, is paid nearly $600,000 a year in cash compensation, benefits and allowances. His base salary -- $424,216 for the 2011 fiscal year -- represents about a $19,000 annual raise averaged over the six years he has held the position, according to information provided by the medical center. That's about 6 percent a year. Valenti, like all the hospital's other doctors, administrators and staff, received no merit raise this year as the center cuts costs. Medical center officials said they might be asking for a tax-rate increase in two years as economic conditions worsen for public hospitals nationwide. On top of his base salary, Valenti received $117,401.77 in incentive pay for meeting job- performance criteria in fiscal 2010. He also received $14,871.50 in retirement benefits. His health insurance benefits, which include long-term disability, life, accidental death and dismemberment, dental and vision coverage, amounted to $18,325.30. Additional benefits included in his employment contract, which cover long-term disability and life insurance, came to $14,622.82. That brought his total 2011 benefits package to $32,948.12. Valenti also received annual allowances of $6,000 for his car, $78 for parking and $1,860 for his cell phone. Chris Roberts may be reached at [email protected]; 546-6136. To see more of the El Paso Times, or to subscribe to the newspaper, go to http://www.elpasotimes.com. Copyright (c) 2011, El Paso Times, Texas Distributed by McClatchy-Tribune Information Services. For more information about the content services offered by McClatchy-Tribune Information Services (MCT), visit www.mctinfoservices.com. |