UNMC employees will see increases in their paychecks and in the university’s contribution to their retirement plans, after the beginning of the new fiscal year on July 1.
UNMC’s faculty salary pool will increase by 3.95 percent. UNMC will use internal funding to increase the non-faculty staff salary pool by 3.95 percent, to match the funding provided by the state for faculty salaries.
“When we were really in a crunch a couple of years ago, we used some salary money to offset a reduction in our appropriation, so that we could save jobs and programs. I’m really pleased that we can offer our employees this increase now, although I wish we could offer even more,” UNMC Chancellor Harold M. Maurer, M.D., said.
The salary pool represents the total amount that UNMC is using for salaries. Not all employees will receive equal raises.
In addition to the salary increases, the university also will increase its contribution to the retirement accounts of those employees in the Basic Retirement Plan.
For those employees in Tier 1 of the plan, the university contribution will increase from 6.0 percent to 6.5 percent. The employee contribution for that tier will remain at 3.5 percent. For employees in Tier 2 of the Basic Retirement Plan, the university’s contribution will increase from 7.5 percent to 8.0 percent. Employees in that tier will continue to contribute 5.5 percent.
“It’s exciting to be able to provide this extra benefit to employees, without the employees having to make any extra contribution,” said John Russell, executive director of Human Resources at UNMC. “Quite frankly, our retirement plan is better than most private companies’, and this increase just makes it that much more of a benefit to our employees.”