IFO/MnSCU Agreement, 2003-2005
Tentative Settlement, July 1, 2004
Summary of Economic Settlement
This document is not intended as a substitute for the actual language of the Agreement and may not be used as authority in any dispute regarding the meaning or application of any provision of the actual Agreement.
Returning Faculty
FY04 (year ending June 30, 2004) – no change from previous year’s salary
FY05 (year ending June 30, 2005) – one step increase (2.4%)
FY05 – Faculty at Step 48 in FY04 shall receive a one-time payment of $2,400 (in lieu of one-step increase, does not go into base)
2-step (4.8%) salary increase in addition to any step increase for returning faculty
2-step (4.8%) salary increase for providing early notice of retirement
Retiring faculty at step 48 in either FY04 or FY05 shall receive a one-time salary supplement of $4,800 (pro rated for less than a full-time appointment in the year of retirement).
Career Steps
2-step (4.8%) increase in either FY04 or FY05 for faculty who have completed 10, 20 or 30 years of service as of the end of the prior academic year.
Effective fall semester 2004 the minimum rate rises from $1,075 to $1,100 (2.4% increase) per credit hour
Important Note: The minimum adjunct rate is also the minimum credit hour rate for summer session. Accordingly, all faculty members with less than a salary of $48,889 for academic year 2004-2005 who have a summer session appointment for the summer of 2005 will be compensated at the $1,100 per credit rate.
Effective July 1, 2004 Instructors may not be placed below step 11, Assistant Professors below step 16, Associate Professors below step 18 and Professors below step 20.
Such placement is applied before any step movement provided in Article 11. Accordingly, all returning faculty who were at the old minimum (e.g. step 10 for Instructors, Step 15 for Assistant Professors) in fiscal year 2003-2004 shall be advanced 2 steps (4.8%) on the salary schedule for fiscal year 2004-2005.
Effective January 1, 2004, the Employer will pay only 85% of the dependent health insurance premium. Previously, the Employer paid 100% of such premiums. This represents a benefit reduction of approximately $95 per month for faculty electing dependent insurance coverage.
Note: Payment of health insurance premiums are “automatically” treated as before tax payments and should not be taken into consideration in setting your medical expense reimbursement account deductions.
Effective January 2005 the Employer shall contribute $500 annually to the medical/dental expense reimbursement account for all insurance-eligible faculty. For the year 2005 only an additional $100 ($600 in total) will be contributed to this account.
The Employer agrees to place a contribution into an HRA account for each insurance-eligible faculty member’s HRA account rather than the medical/dental expense reimbursement account as soon as the HRA accounts become available. These funds may be placed in investment-type accounts and any balance may be carried over from one calendar year to another. It is anticipated such accounts will be accessible to faculty in March 2005.
The one-year of health insurance premiums previously paid by the Employer for those electing the early separation incentive shall now be deposited as a lump-sum in the employee’s post-retirement health care expense account at the time of separation.
Settlement dollars include funding to implement the recommendations of the Salary Review Committee with respect to salary equity adjustments including back pay identified in the four-year analysis and annual reviews. Salary adjustments for the annual reviews up to and including fiscal year 2001 have been implemented. The annual reviews for fiscal years 2002 and 2003 will be done this fall (2004) and implemented as soon as possible.