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Many public colleges in New Jersey have in recent years announced salary freezes for presidents, citing the budget cuts faced at the institutions along with the tuition increases being paid by students and their families. But an investigation by The Star-Ledger documented lucrative benefits that have remained in presidential contracts providing many of them with substantial additional funds during this time. Many of the presidents, for example, receive retention bonuses -- lump sum payments (in the six figures in some cases) for staying for certain periods of time. Other benefits: personal financial advisers and health club memberships, million-dollar insurance policies and unlimited gas.
