Bonuses for Employees Earning Less Than $135,000
May 25, 2022
Dear colleagues,
In my April 4 update about the FY22 operating budget, I outlined our University鈥檚 strong financial position and shared my intention to offer bonuses in appreciation for your many contributions this year.
At the end of May, the University will begin distributing one-time, year-end bonuses to more than 3,000 members of our full-time faculty and staff, as well as adjunct faculty. In addition, I have asked our team to work with the union representatives of our bargaining units 鈥� housekeepers, groundskeepers, delivery staff, and maintenance staff 鈥� to seek their agreement on these new awards, and to ensure all eligible full-time employees share in this well-deserved bonus.
Here鈥檚 how this will work:
- With the amount of funds available, we will be able to pay bonuses to St. Louis-based full-time, clinical and non-clinical faculty and staff, and medical residents and fellows earning $135,000 or less per year. To be eligible, these employees also must have been continuously employed at SLU since January 1, 2021, and remain employed through the time of payout. The annual compensation threshold was selected to target those most impacted by inflation. The IRS defines highly compensated individuals as those who make more than $135,000.
- Each employee meeting these criteria will receive a $1,000 bonus. It will be paid on June 3 to employees who are paid bi-weekly, and May 31 for those paid monthly.
- Adjunct faculty who are paid $135,000 or less per year will receive a bonus of $200 per course taught during spring 2021 term, summer 2021 term and/or fall 2021 term, up to $1,000. Bonuses will be paid to these individuals on June 30.
- Medical residents and fellows will receive additional communication about bonuses available to them.
These year-end bonuses are one tangible way the University can show its gratitude to you for your commitment to making SLU so successful. Because of you, SLU continues to fulfill a higher purpose, and serve the greater good.
May God bless each of you.
Fred P. Pestello, Ph.D.
President