1. General Information
The University may allocate funds for the purpose of dealing with retention in accordance with Article 15 of Part 1 of the Collective Agreement.
2. Retention Fund Amount
On an annual basis the University may allocate up to 0.20% of salaries for those members of the bargaining unit on June 30th of the preceding academic year.
3. Eligibility for Retention
All academic ranks (Professor, Associate Professor, Assistant Professor, Instructor, Senior Instructor, Professor of Teaching) and Lecturers are eligible to be considered for retention fund increases.
4. Processing Retention
Recommendations for retention increases should be communicated to the Dean. Dean’s Offices submit the recommendations to the respective Provost on a Retention Summary Spreadsheet. Each Provost’s office will work with Faculty Relations to arrange retention increases. Departments & Faculties are not required to process paperwork for this increase.
5. Confirming Retention
The respective Provost’s Office will confirm approval of awards to the Dean. The Dean should inform the Head/Directors. The Head of Academic Unit must then arrange for a list of those faculty members who are awarded retention to be distributed individually to all members of the unit. The list should contain the names only and not the value of the award.