Iowa State's salary policy for the fiscal year that begins July 1 was approved this week by the state Board of Regents' executive director. Faculty, professional and scientific staff, postdocs and contract employees with satisfactory performance reviews will receive a 2.1% pay increase beginning with the July pay period.
Merit staff (excluding ISU police) also will receive a 2.1% pay increase, effective July 1. Of this increase, 1.1% is consistent with the AFSCME collective bargaining agreement and an additional 1% is for satisfactory performance. ISU police will receive pay increases in accordance with the AFSCME police bargaining agreement.
The FY22 salary policy for faculty, professional and scientific staff, postdocs and contract employees also includes the option for units to consider additional performance-based discretionary increases. These increases will be implemented later this summer (but will be retroactive to July 1) to allow units more time for budget planning. Supervisors will receive additional information on how to implement the salary policy.
As previously announced, Iowa State will restore its portion of the TIAA/VALIC retirement contribution to 10% on July 1. Also, as a result of federal and state stimulus funding and the university's prudent actions over the past year, there won't be a university-wide budget reduction for FY22.
The university’s general operating budget for FY22 will be finalized after the regents' decision on tuition rates for the upcoming academic year. The Legislature approved no increase to the FY22 general university appropriation for the regent universities.
"Iowa State University continues to address financial challenges," said President Wendy Wintersteen. "As I’ve shared with the Board of Regents and legislative leaders, performance salary increases are critically important to retain our dedicated, hard-working faculty and staff."