|Title||Annual Compensation and Benefits Plan||Number||351|
|Section||Human Resources||Approval Date||Jun 20,2013|
|Subsection||Compensation and Benefits||Effective Date||Jun 20,2013|
4.1 Annual Compensation/Benefit Plan
4.1.1 The University shall provide an annual compensation/benefit plan as established by the president and approved by the Board of Trustees. Insofar as is possible, the compensation/benefit plan shall be:
1) Adequate―Meeting minimum governmental, institutional, labor market, and employee requirements;
2) Equitable―Paying employees fairly in line with job requirements, effort, performance, abilities, education, training, and so on;
3) Cost Effective―Being within the scope of what the University can afford to pay based on legislated and other funding sources;
4) Balanced―Providing a reasonable combination of pay, benefits, and other rewards; and
5) Motivational―Providing enough incentive for employees to be efficient, effective, and productive in their work.
4.2 Salary and Wage Schedules
4.2.1 Salary and hourly wage schedules for adjunct and overload faculty, and classified exempt, nonexempt, and student employees shall be reviewed and published annually as part of the institution's compensation/benefit plan. Current schedules are maintained in Human Resources.
4.3 Employee Benefits
4.3.1 The University's annual compensation/benefit plan shall define employee benefits to be provided to benefits-eligible positions for a given plan year.