Background and Rationale
The College of Health Professions supports a plan to reward faculty and staff members may be awarded incentive pay for obtaining grants and other external salary support that offset their salary.
The College of Health Professions Faculty and Staff Incentive Plan meets its goals through the following objectives:
- Promote balance of research, service and academic priorities
- Financially reward, and thus stimulate, excellence in performance
- Equitably promote and distribute proceeds from profitable activity
- Recruit and retain quality faculty after careful consideration of departmental, college and institutional needs
Procedure
The College of Health Professions may revise the Guidelines for Faculty and Staff Incentive Plan participation at any time depending on budget constraints. The administration will seek advice on revisions from the CHP Executive Committee prior to making administrative decisions.
- Any College of Health Professions faculty or staff member whose regular full-time (not clinical or adjunct) appointment at the UAMS is primarily in the CHP and is paid through the CHP may participate in the Faculty Incentive Plan.
- Participation in the incentive plan does not alter teaching assignments or other regular responsibilities such as research and other scholarly activity, committee work, attendance at professional meetings, and other activities associated with the faculty or staff role.
- No faculty or staff member who qualifies to participate in the Faculty and Staff Incentive Plan may receive as an annual bonus or combined payment from any or all of the stipulated components of the plan an amount greater than 10% of their annual salary. Policies regarding grant submission, securing practice contracts, and participation in other income-generating activities are subject to college, campus and University of Arkansas policies as well as state and federal law.
Sources of Funds
Sources of funds for the College of Health Professions Faculty and Staff Incentive Plan shall include salary funds offset by grants and other external salary support. These sources must include authorized “salary buyout” which offsets one’s salary.
Disbursements
Disbursements described in the following paragraphs consider only the portion of revenue or savings received or retained by the college from salary off set. Incentives are paid quarterly (months 3, 6, 9, and 12), are included with one’s paycheck, and are taxable.
Forty percent (40%) of net savings (salary offset minus funds used to pay temporary replacement faculty), if any, will be paid as a quarterly taxable bonus to the faculty and/or staff member(s) responsible for the salary savings in an amount not to exceed ten percent (10%) of one’s salary.
The remaining sixty percent (60%) will be divided equally between the faculty or staff member’s department/program (30%) and the CHP Dean’s Office (30%).
Example:
A faculty member with a base salary of $60,000 receives a grant award with 20% of their salary in authorized salary offset included in the grant’s budget. It is determined that the program will not need an adjunct faculty to cover responsibilities while this faculty member is working on the grant project.
Faculty incentive
- 20% of salary – $12,000
- 40% of the salary offset of $12,000 = $4,800.
- 10% of faculty salary = $6,000, so they are eligible for the entire 40% ($4,800)
Department/Program
$3,600 (30% of $12,000)
Dean’s Office
$3,600 (30% of $12,000)
Approval
The policy was approved on Feb. 5, 2002
Revision Dates
Oct. 21, 2021