Common use of Retention Adjustments Clause in Contracts

Retention Adjustments. To facilitate retention salary adjustments, the Office of 262 the ▇▇▇▇▇▇▇ will maintain a retention salary adjustment policy, posted on their website, 263 describing the criteria and procedures to be used in making retention adjustments for 264 bargaining unit faculty members. The Office of the ▇▇▇▇▇▇▇ will notify the Union of any 265 retention adjustments made to the salary of a bargaining unit faculty member as well as any 266 cases where the Office of the ▇▇▇▇▇▇▇ decided not to make a retention offer to a bargaining 267 unit faculty member as well as denials of retention efforts. 268 269 Section 8. Payment of Salary. Bargaining unit faculty members may opt to be paid in 12 equal 270 monthly installments consistent with IRS regulations. Salary shall be paid by direct deposit 271 except in the case of emergency or unless another method of payment is required by law. If the 272 University fails to issue pay to a bargaining unit faculty member on time (including but not 273 limited to salary, stipends, overloads, awards), the University shall be liable for any costs 274 incurred by the bargaining unit faculty member as a result of late payment, including but not 275 limited to overdraft fees and late fees assessed for household bills. Bargaining unit faculty 276 members are responsible for checking their pay stub each pay period and to report any 277 discrepancies (e.g., overpayment, underpayment, deduction errors, etc.) to the University in a 278 timely manner. If the University is more than five days late in issuing a bargaining unit faculty 279 member’s pay, the University shall also provide the affected bargaining unit faculty member an 280 additional $50 per day until their full salary is issued. 281