Faculty Union Scholarship

Money withheld from faculty for the strike (“docking”) will be matched by the Administration and placed in a restricted endowment for scholarships.

Docking Formula:

1) Full-time Salary: 3 days of work were missed for the month of September due to the strike. By the Academic Vice Presidents calculations, a full-time faculty member spends 65% of his or her time teaching. Therefore, the docking formula for faculty is as follows:

65% of 3/30 of 1/12 base salary = 0.54% base salary

2) Full-time Stipends: 3/30 of 1/12 of the value of the stipend:

3/30 x 1/12 = 0.83% of stipends

3) Full-time Healthcare Premiums: 3 days of coverage for September. As faculty already pay 15% of premium, this would be the additional 85% of the premium currently paid by the Administration:

100% Premium for 3 days + 15% Premium for 27 days = 23.5% of September Premium

4) Adjunct Salary: 3/30 of 1/12 pay.

Total Scholarship Fund (Including University Match):

~ $200,0000

· Terms of the Scholarship will be at the discretion of the LIUFF, assuming they meet minimum requirements.

· Faculty will have the option of contributing part or all of any future non-recurring salary payments to the fund.

· Faculty will be provided with an additional check-off to contribute to the fund on a monthly basis.