Faculty Bonus Plan for IU Indianapolis
IN-POL-FA6
About This Policy
- Effective Date:
- 05-05-2015
- Responsible Campus Administrator:
- IU Indianapolis Faculty Council
- Policy Contact:
IU Indianapolis Council: IU Indianapolis Faculty Council, ude[dot]ui[at]licnuocf
Office of the IU Indianapolis Provost, ude[dot]ui[at]tsvrp
Scope
This policy applies to Responsibility Centers (RC) that elect to award faculty bonuses.Policy Statement
Each Responsibility Center must develop its own specific policy and process, in consultation with appropriate faculty governance groups. The bonus policy must be approved by IU Indianapolis Office of Finance and Administration.
Faculty bonuses at IU Indianapolis differ from annual merit raises in terms of the source and process for funding. RC leaders recognize annual meritorious contributions during annual pay increase opportunities. A one-time cash bonus may be awarded no more than once every fiscal year in recognition of extraordinary accomplishment in service, teaching, research, and/or creative activity.
Cash bonuses cannot replace raises but are awarded in addition to raises. Raises should be awarded equitably and independent of any cash bonus award. Bonuses may not be given from funds that are intended for yearly raises. Bonus awards, like salaries, must be a matter of record made available upon request. The percentage and amount of each awarding RC’s budget allocated to such bonuses annually must be available upon request.
Procedures
Only full-time appointed faculty members are eligible for faculty bonuses.
Calculation of faculty bonus:
- 10 percent of individual’s base salary is the maximum for faculty bonuses (base salary is defined by the IU School of Medicine as core plus adjustable).
Process for determining faculty bonus:
- Each RC must develop its own policy and guidelines for faculty bonuses.
- Policy and guidelines must be approved by the RC’s faculty governance group.
- Faculty bonus policy and guidelines must be filed with IU Indianapolis Office of the Provost
- Faculty bonus policy and guidelines must be approved and administered by IU Indianapolis Finance and Administration.
- Bonus pay is distinct from research incentive pay and extra compensation.
History
This policy replaces the Policy for Cash Bonuses for Academic Appointees at IUPUI as passed by the IUPUI Faculty Council in May 2003.
Revised by the IFC Faculty Affairs Committee and presented to the Faculty Council, 5/5/15
Passed by Faculty Council, 5/5/15