FIP Policies

The FIP operates under the following policies:

• The FIP shall operate within the existing school budget, with all expenditures funded from a school-wide pool.
• The financial stability of the FIP shall be ensured by creating reserves and making awards only from the accumulated reserves. By avoiding expenditures within the FIP that are continuing commitments, funds shall remain available to re-deploy as needed by the school.
• Funds accumulated with the FIP may be allocated- according to procedures established by the Dean and approved by the President- for incentive payments to faculty members and one-time expenditures for programmatic enhancements (e.g., capital equipment).
• All incentives are provided on a prospective basis only. Incentive payments are not a bonus for past service, but are awarded for expected performance.
• All incentive awards are given one year at a time on a twelve-month basis. The incentive may be taken away at any time and each participating faculty member shall acknowledge that there is no right to an incentive payment. Incentive awards are not permanent salary adjustments, nor are they merit increases or salary rate changes. Incentive payments to a faculty member may fluctuate up or down from year to year without affecting base salary.
• Incentive payments to faculty members shall be treated as payroll items subject to federal income tax and FICA withholdings. Incentive payments shall be excluded from all calculations of employee fringe benefits, including deductions for any retirement program. Incentive payments may be included in the calculation of maximum deferral available under the tax-sheltered annuity program.
• Incentive payments may not exceed 40% of base salary.
• The Dean shall be responsible for establishing procedures for the eligibility, level, and structure of incentive awards, and for periodic reviews of the FIP to ensure that it is meeting its goals. Presidential approval shall be required for the initial FIP procedures and for all subsequent changes that the Dean proposes.

FIP Operating Procedures - PDF Format

Recipient Selection Process Forms

• Call for Nominations
• Nomination Form
• Award Notification Memorandum
• Payment Form