Major Aspects of a Faculty Grant Incentive Salary Plan
A grant incentive plan would enable faculty members employed in the Division of Academic Affairs to earn a supplement to their salary by including all or a portion of his/her base salary (9 months salary except those specifically employed on 12 months contract). Such a plan would be implemented on a pilot basis and would be reviewed in 2 years following implementation to determine adjustments that may be necessary. While such a plan is directly linked to the Universitys strategic goal in research, increased research funding will directly benefit all aspects of the University including teaching and service.
Such a plan would be intended to meet the following goals:
This salary supplement would be restricted to the redistribution of available unrestricted funds generated by a faculty member from current lapsed salary revenues from competitively funded extramural grants and contracts. No other source of funds would be used to fund the incentive plan. Funds derived from gifts and direct Federal appropriations may not be used to fund this plan. The lapsed salary accumulated for that faculty members activity on the grant or contract for the preceding fiscal year will be distributed according to the following formula:
All costs for any cash match for the grant, any supplies or equipment purchases required for the project and instructional replacement costs for the investigators unfunded non-administrative reassigned time would be deducted from the lapsed salary. All funds remaining after these deductions would be distributed as follows:
The faculty member may elect to assign all or a portion of the incentive payment into an account to support professional development in lieu of salary.
*A maximum of 30% of the annual base salary could be earned from the grant incentive plan.
Once each fiscal year, the salary support for each faculty member holding grants would be evaluated to determine if such funds are available and all eligibility criteria have been fulfilled. The salary supplement would be paid in a one-time lump sum payment to eligible faculty once each year, e.g. on the first working day of December for eligible salary that accrued in the previous fiscal year (October 1 through September 30). The salary supplement would be subject to federal and state withholding and to TRS contribution requirements. The grant incentive payment would be a supplement to the recipients regular annual compensation and is not a payment for additional work. The grant incentive payment would not affect a recipients eligibility for merit or other salary increases.
All full-time faculty, with the exception of research faculty whose contract requires that they generate 100% of their salary, would be eligible to file a request to participate in the plan if their base salary or a portion thereof and their benefits are charged to the grant or contract and if they are principal investigators or co-investigators on the project.
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