Psychic Income

Old time faculty who remember UC during Jerry Brown’s earlier terms as governor will get nervous when he talks about “psychic income.”

Jerry Brown on pay cut: 'I derive a lot of psychic income'

Don't expect Gov. Jerry Brown to lose much sleep over the Citizen Compensation Commission's decision to slash his salary by $8,699.  "I'd run for governor whether it was a paid job or not," he said today. "I derive a lot of psychic income." The seven-member panel, which sets pay levels for legislators and constitutional officers, voted 5-1 today to reduce pay for the elected officials by 5 percent. It will take effect in December…

Full article at: http://blogs.sacbee.com/capitolalertlatest/2012/05/jerry-brown-on-pay-cut-i-derive-a-lot-of-psychic-income.html

If you’re not an old timer, find one and ask him/her about “psychic income” in that early-Brown era and its connection to faculty pay.  One good thing about psychic income though… It’s not taxable.

And from that very period: