University’s 2020 Compensation Program
|Vice Presidents, Vice Provosts, Deans, Directors, Department Heads, and Managers
|Kyle Cavanaugh, Vice President, Administration
|University’s 2020 Compensation Program
As a follow up to President Price’s message yesterday regarding actions to mitigate our deepening financial challenges, we are providing addition details about the compensation program for this year, which includes no salary increases for University employees making more than $50,000 per year.
The University will provide a one-time payment of $1,000 this July to benefits eligible faculty and staff whose monthly gross income is less than $4,166.67/month for exempt employees and less than $24.04/hour for nonexempt employees. The payment will be prorated for eligible staff working at least 20 hours per week but less than full time.
Managers and supervisors should continue to conduct performance reviews and discussions with staff. This is an important process to provide feedback on strengths, opportunities for improvement and professional development goals for the coming year.
Managers should also meet with their staff to explain the process this year prior to the payment dates listed below. The following points are of particular importance:
- The one-time payment is not automatic or guaranteed. A performance rating for staff of “successful” or “exceptional” is a prerequisite for eligibility.
- The $1,000 lump sum payment is subject to all applicable taxes and will be taxed as a supplemental payment as required by the IRS (22% federal, 5.35% state, 7.65% FICA).
- Payments for eligible faculty and staff will be included in the July 17 biweekly pay date for hourly-paid employees. Salaried employees will receive the payment on the July 24 monthly pay date.
Positions covered under collective bargaining agreements will be governed by the terms of the contract. We have also prepared a “ Questions and Answers ” document to provide additional information about the compensation program this year and support you in communicating with staff members. More information will be shared as we approach the deadline for submission of performance ratings and the effective date for the lump sum payment. Thank you.