UI President Sally Mason, along with the other regent university presidents, turned down incentive payments at today’s Board of Regents meeting in Cedar Falls.

The institution heads said they could not accept the benefits at a time when the universities are facing serious financial challenges.

“This year our budget difficulties are extraordinary,” Mason said. “I too must do my part.”

Mason had been eligible for up to $80,000 in incentive based compensation.

Iowa State University President Gregory Geoffroy said he was opposed to the general idea of incentive payments.

“I don’t like the concept of a performance based bonus,” Geoffroy said. “I don’t expect one, nor would I accept any kind of performance bonus under these economic circumstances.”

Check dailyiowan.com throughout the day for more on today’s Board of Regents meeting , including the UI’s plan to cut roughly $25 million from its budget and discussion of a $100 spring tuition surcharge and 6 percent tuition increase for the next school year.