Common use of Market Increases Clause in Contracts

Market Increases. The University and United Academics are committed to the recruitment and retention of high quality faculty members. Any market increases to eligible UNAC members will be effective the first full pay period after July 1, 2018. There shall be no market increases for FY18. The University may distribute market increase in FY19 and FY20. If funds are made available, a joint Union and University Labor Management Committee for Market Salary Increase will be formed to analyze salaries and determine the distribution of the calculated pool. The Union and the University may each select up to three participants to serve on this committee. The committee shall determine relevant employment factors and procedures for distributing the calculated pool using comparator market data appropriate to each MAU. The joint Union and University Labor Management Committee for Market Salary Increase will document the procedure used to determine and distribute market salary increases in a joint Letter of Understanding. Individual market adjustments will be made according to each eligible UNAC member’s equiproportional share of the pool based on the amount of the individual UNAC member’s negative residual in FY19 and FY20. No distributions will be made in excess of a UNAC member’s full residual; nor will distributions be made if the amount of the residual is less than one percent (1.0%) of their nine-month base salary. The parties will meet and confer as needed regarding the salary analysis and will agree on the distribution of the pool in each year. There shall be no further increases under this provision during the term of the agreement after December 31, 2019.

Market Increases. The University and United Academics are committed to the recruitment and retention of high quality faculty members. Any market increases to eligible UNAC bargaining unitUNAC members will be effective the first full pay period after July 1, 20182018the beginning of the specified fiscal year. There shall be no market increases for FY18. The University may distribute market increase increases in FY19 FY23,19 and FY20FY20 FY24, and FY25, if funds are made available and funded by the State. If funds are made availableavailable and are appropriated and funded by the State, a joint Union and University Labor Management Committee for Market Salary Increase will be formed to analyze salaries and determine recommenddetermine the distribution methodology of the calculated pool. The Union and the University may each select up to three participants to serve on this committee. The committee shall determine relevant employment factors and procedures for distributing the calculated pool using comparator market data appropriate to each MAU, program, and position. The joint Union and University Labor Management Committee for Market Salary Increase will document the procedure used to determine and distribute market salary increases in a joint Letter of UnderstandingUnderstanding for consideration and approval by the University of Alaska President. Individual market adjustments will be made according to each eligible UNAC member’s equiproportional share of the pool based on the amount of the individual UNAC member’s negative residual in FY19 and FY20. No distributions will be made in excess of a UNAC member’s full residual; nor will distributions be made if the amount of the residual is less than one percent (1.0%) of their nine-month base salary. The parties will meet and confer as needed regarding the salary analysis and will agree on the distribution of the pool in each year. There shall be no further increases under this provision during the term of the agreement after December 31, 2019202419.