Federally Funded R&D Centers: Executive Compensation at The Aerospace Corporation.
Abstract
As requested, we are reviewing the financial and management practices of The Aerospace Corporation, which operates a federally funded research and development center (FFRDC) sponsored by the Air Force. This report discusses the salary and other benefits provided to Aerospace's corporate officers and other senior management personnel and includes information on Defense Contract Audit Agency (DCAA) audits on Aerospace compensation costs and congressional actions regarding FFRDC compensation. This report does not draw conclusions about the comparability or reasonableness of Aerospace executive compensation. As agreed with your offices, we plan to report later on other issues you asked us to review at Aerospace. As of September 1994, Aerospace employed 32 senior management personnel (referred to as Aerospace executives), 12 of which were corporate officers. The officers' total annual compensation averaged about $240,200 and their annual salary averaged about $176,400. Corporate officers' benefits included a retirement plan that is not available to senior management personnel or other employees. The total annual compensation for the other 20 Aerospace executives that were not corporate officers averaged about $154,300 and their annual salary averaged about $139,500.
Document Details
- Document Type
- Technical Report
- Publication Date
- Feb 07, 1995
- Accession Number
- ADA291244
Entities
Organizations
- United States Government Accountability Office