Federally Funded R&D Centers: Executive Compensation at The Aerospace Corporation.
GENERAL ACCOUNTING OFFICE WASHINGTON DC NATIONAL SECURITY AND INTERNATIONAL AFFAIRS DIV
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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 Aerospaces 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.
- Administration and Management
- Economics and Cost Analysis