In 1944 the board of trustees created the position of president emeritus, with an annual pension of $6,000. When President James D. Hoskins retired in 1946, he became the first former president to hold the title. While a retirement plan had been created in 1941, it had not been in place long enough to be beneficial to Hoskins. Subsequent former presidents to hold the title (but with increased stipends) include Cloide Brehm, E. J. Boling, Joseph E. Johnson, and Jan Simek.