Look for an email next week with information about a ratification vote, the week of May 1st, for the following modification to our negotiated agreement.
There shall be a one-time payment to each bargaining unit member in Fiscal Year 2012 no later than June 30, 2012. The payment for each employee will be calculated as follows: $2,000 minus the 0.5% (of base salary) paid to each bargaining unit member in December 2011. There shall be no adjustment to base salary. Payment should be in the June 1st payroll.
This will be the only modification to our existing agreement, including the existing reopener language which stays in place.
This is an increase in the bonus that was previously negotiated for all FT faculty, $2000 vs. 2% of base salary total.