If a classified employee is transferred involuntarily to a different class that has a lower maximum rate of pay, the transfer is a demotion. A transfer that is a demotion under this section may be made only for cause, on written charges submitted to the President. The classified employee may appeal the proposed demotion to the President within the time and in the manner required by policies adopted by the Board of Regents. If the classified employee fails to appeal within the time and in the manner required, the demotion is final. If the classified employee appeals the demotion, the President shall hold a hearing to determine whether there is cause for the demotion. The hearing shall be held within 90 days after the written charges for the demotion are submitted to the President. The President shall make findings and issue a proposed written decision on an appeal for approval by the Secretary of Budget and Management within 45 days after the later of: The conclusion of the hearing; and The day when all briefs or memoranda have been submitted. The Secretary of Budget and Management shall provide a copy of the findings and decision to each party. The decision of the Secretary of Budget and Management is final. The University authority immediately shall enforce a final decision issued under this section.