On Wednesday, April 30, 2014 the Governor signed House Bill 14-1336, commonly referred to as the FY 2014-15 budget bill, or Long Bill. According to this bill, classified employees are eligible for a 2.5% Across the Board (ATB/COLA), and a performance based merit increase (based on the % indicated in the performance matrix - see chart above).
All classified employees who are employed by the University prior to July 1, 2014 will receive the ATB/COLA increase, regardless of performance rating. The matrix for merit pay is dependent on an employee’s performance rating and salary within the FY 2013-14 Compensation Plan.
Increases for classified employees will be implemented as follows:
- Any temporary pay differential is removed from base salary.
- An Across the Board /Cost of Living adjustment (ATB /COLA) of 2.5% is applied as a base-building increase. If the employee’s salary is at the new range maximum, the ATB/COLA increase will be a non-base-building, one-time payment. If the total increase would cause the employee’s salary to be over the range maximum, a base building increase will be applied up to the maximum and any amount over the range maximum will be a non-base building, one-time payment.
- Merit increases for employees hired before April 1, 2014, are determined by the matrix pictured above.
After ATB/COLA and merit increases are calculated, the employee’s new adjusted salary will be placed into the new FY 2014-15 Compensation Plan.
If the salary is below the new minimum, a base-building increase will be added to bring the employee’s salary to the minimum of the salary range. If the salary is above the new maximum, the employee’s pay will be in saved pay status for up to three years, which means the employee’s pay will remain the same for three years and then be reduced to the range maximum if the range maximums do not change before that time.
- Temporary pay differentials, if applicable, are calculated and monthly salary is adjusted accordingly using departmental funds.