As I mentioned in the email, the University Budget Council reached the decision that UT cannot afford to commit to permanent salary increases for fiscal year 2010-11. However, we will implement a one-time, merit-based payment program for staff and faculty. The raise pool amounts to approximately 2% of total current compensation for staff and faculty.
These salary increases will be administered in the form of a single payment on December 7th of this year. Employees are eligible for consideration if they have been employed by the University for the six months immediately preceding November 1, 2010 and at least six months has elapsed since the employee’s last merit increase. Payments are based on performance, so some will receive more than 2%, some will receive less than 2%, and some will not receive a payment. Staff and faculty will be notified by their department in November of their recommended increases.
All one-time merit payments are subject to taxes and will be included in computations that determine retirement benefits in the Teacher Retirement System (TRS) and in the Optional Retirement Program (ORP).
I know this is not an ideal plan, but it is the best we can do in this environment of austerity and budget cuts.
I appreciate all of the dedicated work that our staff and faculty perform on this campus every day.
Thank you for everything you do to create an even better university.