TO:
All Employees
FROM:
Dr. Paul E. Stanton, Jr., President
SUBJECT:
One-Time Salary Bonus and Additional Salary Policy
DATE:
July 10, 2008
I am pleased to announce that we have received final guidance from the Tennessee
Board of Regents concerning the Tennessee State Legislature's approval of a
one-time bonus payment for all regular TBR employees.
The following guidelines will be used for implementing this bonus:
· The bonus will be a $400 one-time payment on October 31, 2008 for all
full-time regular employees, including post retirees, who have three years of
creditable service and are actively employed as of October 1, 2008.
· Regular part-time employees who have completed three years of creditable
service may receive a pro-rated amount based upon their percent of time worked.
· This bonus does not apply to adjunct faculty, temporary employees, medical
school residents, graduate assistants, student workers or University School
faculty.
Additional Salary Policy:
· The matching amount for the 401(k) will remain at a maximum of $50 per month.
The matching amount may be between $20 and $50 per month.
· Longevity payments remain at $100 per year of creditable service up to a
maximum of 30 years of service.
· Federal minimum wage rates will increase from $5.85 per hour to $6.55 an hour
effective July 24, 2008. Although the effective date is July 24, 2008, we will
make the increases effective July 16, 2008, to be consistent with our payroll
schedule. ETSU will adjust the classified/support staff salary schedule for
Level 1 to reflect the change in the federal minimum rates.
I appreciate your dedicated service and commitment to making ETSU the best
regional university in the country.
Please contact the Office of Human Resources at 9-5825 if you have additional
questions or concerns.