Bonus and/or Supplemental Pay Policy
Effective Date: January 2, 2014
Last Reviewed: July 1, 2015
Review by: January 1, 2016
Meharry Medical College provides every employee with base compensation. However, there are circumstances when additional compensation is appropriate to provide a reward for exceptional work performance, high productivity, and years of service. Bonus pay consists of compensation that is contingent upon high productivity, years of service, discretion, performance, or institutional year-end results achieved. From time to time the President may declare and pay an annual bonus and/or supplemental payment (from both the unrestricted and restricted funding sources) to all non-union eligible employees based on the operational and/or financial results of the prior fiscal year. Restricted payments are subject to federal guidelines. Employees represented by the union may be governed by the appropriate bargaining unit agreement.
Reasons for the Policy
The reason for this policy is to establish guidelines for developing, recommending, and implementing bonus/supplemental pay programs for employees. Meharry's Department of Finance is the responsible office for this policy.
You can view the full policy to the right or by clicking here.