The University of Colorado filled three key administrative posts — including the Boulder campus’s chief financial officer — with retirees who are limited to working 140 days a year, but who receive nearly a full salary from the university plus pension payments from the state retirement fund.
For example, Ric Porreca, 53, senior vice chancellor and chief financial officer, retired on Feb. 28, 2011, and was rehired to the same post on April 1, 2011. He’s now eligible for roughly $500,000 in combined CU salary and pension payouts for working the equivalent of seven months a year.
CU officials acknowledged that they did not announce the retirements of Porreca or Jeffrey Lipton, 59, the vice chancellor for administration, to the broader Boulder campus at the time.
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