Dear Colleagues,

We are pleased to announce that this morning, the University's Board of Trustees approved the University Budget for Fiscal Year 2022. This is the same Budget recommended by the University Budget Council (UBC). The Budget includes the following: 

• Merit Increase: Set the merit pay pool at 4% on July 1 for the next fiscal year. More information will be forthcoming from Human Resources and the Office of the Provost to salary planners, supervisors and managers on this.
• Retirement Match: Increase the employer contribution made by the University to the 401(a) retirement plan to 10% of eligible compensation, effective July 1, 2021. 

While not in the Fiscal Year 2022 Budget, the Trustees asked the administration, in consultation with the University Budget Council and the Benefits Committee, to develop a fiscally responsible plan to over time restore the 5% retirement plan contribution which had been reduced for a 10 1/2 month period. 

Please watch for an invitation to attend the Annual Budget Forum which will be held virtually later this spring quarter. 

We and the members of the Cabinet wish to express our immense gratitude for your hard work and contributions as we have dealt with the impacts of the pandemic this past year. We fully recognize that many of you have made significant sacrifices, faced great losses and dealt with challenging circumstances. Thank you for all you do and for your steadfast dedication to our core mission of educating students.

With gratitude,

Lisa A. Kloppenberg
Acting President

John Ottoboni
Chief Operating Officer

Michael Crowley
Vice President, Finance and Administration