Michigan State University President Lou Anna Simon's annual salary just jumped to $520,000 under a raise approved by the school's trustees.
The 5 percent increase moves Simon's salary above the half-million-dollar mark for the first time. She currently earns $495,000. The increase is retroactive to Oct. 1.
Trustees agreed Friday to also pay for a personal long-term care policy for Simon and her husband, Roy, director of the university's telecommunication and transportation systems.
The trustees say Simon deserved the raise for her solid leadership and performance as president.
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