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CON Supplemental Compensation Plan: Difference between revisions
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CON Supplemental Compensation Plan (view source)
Revision as of 14:38, July 18, 2022
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===GENERAL=== | ===GENERAL=== | ||
<p style="margin-bottom:15px; max-width:70em !important;">The College of Nursing Supplemental Compensation Plan is adopted pursuant to the Board of Regents Policy Authorizing the Establishment of Supplemental Compensation Plans (Addendum VIII A-4, 1987 | <p style="margin-bottom:15px; max-width:70em !important;">The College of Nursing Supplemental Compensation Plan is adopted pursuant to the Board of Regents Policy Authorizing the Establishment of Supplemental Compensation Plans (Addendum VIII A-4, 1987). The definitions, guidelines and requirements stated in the Regents' policy apply to this plan. This plan includes additional requirements, limitations and restrictions, as permitted by the Regents' policy. This plan shall be effective and compensation will be determined from the beginning of the 1987-88 fiscal year. </p> | ||
====Section 1. Authorization.==== | ====Section 1. Authorization.==== | ||
<p style="margin-bottom:15px; max-width:70em !important;">Authorization for the College of Nursing Supplemental Compensation Plan is the Board of Regents Policy Authorizing the establishment of Supplemental Compensation Plans at the University of Nebraska Medical Center.</p> | <p style="margin-bottom:15px; max-width:70em !important;">Authorization for the College of Nursing Supplemental Compensation Plan is the Board of Regents Policy Authorizing the establishment of Supplemental Compensation Plans at the University of Nebraska Medical Center.</p> | ||
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====Section 4. Requirements for Supplemental Compensation Plan.==== | ====Section 4. Requirements for Supplemental Compensation Plan.==== | ||
<p style="margin-bottom:15px; max-width:70em !important;"><strong>4.1 Participation in This Supplemental Compensation Plan.</strong> Only eligible academic staff members as defined in Section 3.2 of this policy shall be eligible for participation in this supplemental compensation plan. No eligible academic staff member shall have any absolute right to participate in this Supplemental Compensation Plan, and the determination of whether or not any eligible academic staff member shall be offered supplemental compensation shall be made by the | <p style="margin-bottom:15px; max-width:70em !important;"><strong>4.1 Participation in This Supplemental Compensation Plan.</strong> Only eligible academic staff members as defined in Section 3.2 of this policy shall be eligible for participation in this supplemental compensation plan. No eligible academic staff member shall have any absolute right to participate in this Supplemental Compensation Plan, and the determination of whether or not any eligible academic staff member shall be offered supplemental compensation shall be made by the division assistant dean, Dean, and the Chancellor.</p> | ||
<p style="margin-bottom:15px; max-width:70em !important;"><strong>4.2 Components of Total University Compensation Under the Supplemental Compensation Plan.</strong> The total annual compensation for a participating staff member will consist of his or her base University salary plus supplemental compensation approved in accordance with the terms of this supplemental compensation plan.</p> | <p style="margin-bottom:15px; max-width:70em !important;"><strong>4.2 Components of Total University Compensation Under the Supplemental Compensation Plan.</strong> The total annual compensation for a participating staff member will consist of his or her base University salary plus supplemental compensation approved in accordance with the terms of this supplemental compensation plan.</p> | ||
<p style="margin-bottom:15px; max-width:70em !important;"><strong>4.3 Sources of Funds for Supplemental Compensation Plan.</strong> Supplemental compensation to be made available for distribution to participating staff members under this supplemental compensation plan will be derived exclusively from funds available for academic salaries and associated fringe benefits in (a) the University Trust Fund established by Neb. Rev. Stat. ' 85-123.01, (b) the Temporary University Fund established by Neb. Rev. Stat. ' 85-124, except that portion of the Temporary University Fund derived from funds appropriated by the Legislature, and (c) the University Cash Fund established by Neb. Rev. Stat. ' 85-125.</p> | <p style="margin-bottom:15px; max-width:70em !important;"><strong>4.3 Sources of Funds for Supplemental Compensation Plan.</strong> Supplemental compensation to be made available for distribution to participating staff members under this supplemental compensation plan will be derived exclusively from funds available for academic salaries and associated fringe benefits in (a) the University Trust Fund established by Neb. Rev. Stat. ' 85-123.01, (b) the Temporary University Fund established by Neb. Rev. Stat. ' 85-124, except that portion of the Temporary University Fund derived from funds appropriated by the Legislature, and (c) the University Cash Fund established by Neb. Rev. Stat. ' 85-125.</p> | ||
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====Section 6. Benefits.==== | ====Section 6. Benefits.==== | ||
<p style="margin-bottom:15px; max-width:70em !important;"><strong>6.1 General.</strong> Benefits to be provided to participating staff members under this supplemental compensation plan shall be limited to salary supplements and supplemental retirement benefits. Other supplemental compensation benefits described in the Regents' policy authorizing this plan are not included and will not be paid to participating staff members.</p> | <p style="margin-bottom:15px; max-width:70em !important;"><strong>6.1 General.</strong> Benefits to be provided to participating staff members under this supplemental compensation plan shall be limited to salary supplements and supplemental retirement benefits. Other supplemental compensation benefits described in the Regents' policy authorizing this plan are not included and will not be paid to participating staff members.</p> | ||
<p style="margin-bottom:15px; max-width:70em !important;"><strong>6.2 Supplemental Retirement Benefits and Contributions.</strong> Subject to the availability of funds in the appropriate departmental/division subaccount, supplemental retirement benefits will be provided to participating staff members in accordance with Section 3.12.4.7 of the | <p style="margin-bottom:15px; max-width:70em !important;"><strong>6.2 Supplemental Retirement Benefits and Contributions.</strong> Subject to the availability of funds in the appropriate departmental/division subaccount, supplemental retirement benefits will be provided to participating staff members in accordance with Section 3.12.4.7 of the Bylaws of the Board of Regents through payments made from the appropriate account of the Plan, departmental/division subaccount of the Plan not to exceed an amount determined by applying the prevailing percentage of employer (University) contribution paid on account of the participating staff member's base University salary to the total supplementary salary paid to the participating staff member. For example, if the prevailing percentage of the employer (University) contribution is 7% of the participating staff member's base University salary and the total supplemental salary paid is $7,000.00, then the maximum supplemental retirement benefit is $490.00. Further, each participating staff member shall contribute a portion of his or her supplemental salary to his or her retirement account in accordance with the rate established by the Board of Regents pursuant to Section 3.12.4.7 of the Bylaws of the Board of Regents.</p> | ||
<p style="margin-bottom:15px; max-width:70em !important;"><strong>6.3 Other Supplemental Benefits.</strong> Other supplemental benefits which may be provided to participating staff members under a supplemental compensation plan are as follows: | <p style="margin-bottom:15px; max-width:70em !important;"><strong>6.3 Other Supplemental Benefits.</strong> Other supplemental benefits which may be provided to participating staff members under a supplemental compensation plan are as follows: | ||
<ol style="list-style-type: lower-alpha;margin-bottom:15px; max-width:70em !important;"> | <ol style="list-style-type: lower-alpha;margin-bottom:15px; max-width:70em !important;"> | ||
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<li>Other professional expenses as allowed within University guidelines.</li> | <li>Other professional expenses as allowed within University guidelines.</li> | ||
</ol></p> | </ol></p> | ||
<p style="margin-bottom:15px;">APPROVED:</p> | <!-- <p style="margin-bottom:15px;">APPROVED:</p> --> | ||