by William Petroski

Gov. Terry Branstad won't follow the lead of Michigan Gov. Rick Snyder, who announced Thursday he will accept a $1 annual salary to express "shared sacrifice" to help address a state budget shortfall.

Branstad is collecting both a $130,000 salary as governor and a state pension worth more than $50,000 from his previous service in government - a practice some critics describe as "double-dipping."

Branstad spokesman Tim Al-brecht said Thursday that Snyder is able to forgo his salary because he was a highly successful executive for a company that shunned locating in Iowa because of this state's terrible business climate.

"Governor Branstad wants more executives like Rick Snyder to locate in Iowa instead of neighboring states, and has a plan for job creation that will get it done," Albrecht said.

Snyder, a millionaire, would normally be paid $159,300 as Michigan's governor. He announced his pay cut while unveiling a $45 billion budget plan that includes widespread spending cuts to help fix a $1.4 billion budget shortfall.

Filed Under : Employee Benefits, Pensions