. State Universities Retirement. System of Illinois. SURS Annual Staff Salary Review Proposal for Fiscal Year
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1 State Universities Retirement System of Illinois SURS Annual Staff Salary Review Proposal for Fiscal Year
2 CONFIDENTIAL 2
3 Executive Summary HISTORY This review of staff salaries finds the general business climate nervously attempting to understand the implications of the current economic climate while maintaining talent levels. As it relates to SURS staff salaries, the Board of Trustees historically has utilized the Consumer Price Index (CPI) as the starting point for discussions for staff pay increases. This number, at times, has been augmented by performance-based percentage allocations including the approval of a percentage above the CPI and/or lump-sum dollars for our performance incentive program. THIS YEAR Based on Trustee request, an equity study was performed for the entire spectrum of Civil Service positions at SURS. FINDINGS for calendar year 2008, the consumer Price index rose.1% over the previous period. A decline in energy prices, particularly gasoline underscored the relative increase. This number is significantly less than the 4.1% for calendar year 2007 as well as the 2.5% reported for business forecast modest increases, while many plan to freeze salaries, and there is uncertainty at Illinois Universities and Community Colleges (Public and Private) relating to pay increases as well as overall job security. The current pay schedule for Civil Service positions is appropriate. Some follow-up will occur with a few positions. A philosophy related to managing staff that are at the end of their pay range is encouraged. RECOMMENDATIONS Option 1 0% general increase + $50,000 to fund performance incentive program + no range movement or Option % general increase + $50,000 to fund performance incentive program + range movement of 1.25% 3
4 MARKET CONDITIONS SURS historically competes in a tight local labor market. The Bureau of Labor Statistics reports national unemployment as of December 2008 at 6.5% - that number has steadily increased (December 2007 rate 5%) and state unemployment at 6.9% (December 2007 rate 5.5%). These numbers put the state of Illinois above national levels. Champaign s unemployment rate of 6.5% is equal to national levels, and has increased dramatically over the past 24 months. In Champaign, unemployment rates are up almost 2% from last year s rate of 4.7% and significantly above 2006 s rate of 2.9%. Cost of Living For calendar year 2008, the consumer Price index rose.1% over the previous period. A decline in energy prices, particularly gasoline underscored the relative increase. This number is significantly less than the 4.1% for calendar year 2007 as well as the 2.5% reported for The following excerpt comes from the Bureau of Labor and Statistics: CONSUMER PRICE INDEX: DECEMBER 2008 The consumer price index for All Urban Consumers (CPI-U) decreased 1.0 percent in December, before seasonal adjustment, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The December level of ( =100) was 0.1 percent higher than in December The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) decreased 1.2 percent in December, prior to seasonal adjustment. The December level of ( =100) was 0.5 percent lower than in December The Chained CPI for All Urban Consumers (C-CPI-U) decreased 1.3 percent in December on a not seasonally adjusted basis. The December level of (December 1999=100) was 0.5 percent lower than in December CPI for All Urban Consumers (CPI-U) On a seasonally adjusted basis, the CPI-U decreased 0.7 percent in December, the third consecutive decline. The index is now only 0.1 percent higher than in December Declining energy prices, particularly for gasoline, again drove most of the decline. The energy index declined 8.3 percent. Within energy, the gasoline index fell 17.2 percent and accounted for almost 90 percent of the decrease in the all items index. The index for household energy declined 0.7 percent. Excluding energy, the index was virtually unchanged for the third straight month. 4
5 The food index declined 0.1 percent in December the first decrease since April 2006, as many meat, dairy, fruit, and vegetable indexes decreased. The index for all items excluding food and energy was virtually unchanged. Decreases in the indexes for lodging away from home, airline fare, and new and used motor vehicles, along with downturns in the indexes for apparel and recreation, offset increases in other indexes including rent and owners equivalent rent, medical care, and education. For the 12 month period ending December 2008, the CPI-U rose 0.1 percent. This was the smallest calendar year increase since a 0.7 percent decline in 1954 and compares with a 4.1 percent increase for the 12 months ended December Bureau of Labor Statistics, January, 2009 SURVEY OF PLANNED PAY INCREASES General Business Forecasts for Staff Pay Increases Business Legal 2.80 World at Work 3.80 Mercer 3.20 Hewitt & Associates 3.10 Average
6 Public Pension Forecasts Staff Pay Increases Similar to Illinois agencies, public pension systems are reluctant to disclose salary plans. Yet, it is safe to assume, that many systems are finding themselves affected by the general economic malaise as well. The intent is to continue to pursue information that will assist in discussions in March. Illinois Universities and Community Colleges Public and Private To date, public universities and community colleges are being cautious in releasing information relating to any planned pay increases. In most cases, schools appear prepared to work with no increase in pay levels and in some cases a reduction in budgets. PAY RATES Equity Review This year, an pay equity reviewe was conducted. This includes the analysis of pay ranges for all SURS jobs classified as Civil Service. Salary data was collected for both professional and paraprofessional positions. SEE Equity Review at end of report. 6
7 SURS STAFF PAY INCREASE HISTORY March SURS Industry CPI Used
8 PERFORMANCE INCENTIVE HISTORY Year Number of Awards % of Staff Award Amounts % $2,000 in base % $2,000 in base % $2,000 in base 2003 holiday na % $250 - $2,500 lump sum % $500 - $3,500 lump sum % $250 - $2,000 lump sum % $500 - $1,500 lump sum % $500 - $4,000 lump sum 2008 PERFORMANCE INCENTIVE AWARD AMOUNTS Amount # of staff $ $ $1, $1, $2, $3, $4,
9 SURS STAFF PAY-FOR-PERFORMANCE RECOMMENDATION FOR FISCAL YEAR 2010 FISCAL 10 CPI/market Total Additional Option 1 0% 0% 0% Option 2.1% 1.15% 1.25% OTHER RECOMMENDATIONS Move minimum and maximum of ranges at same rate of overall raise allocation Apportion $50,000 to fund the performance incentive program 9
10 PERSONNEL BUDGET IMPACT FY 2010 Option 2 Option 1 Current Annual Payroll $6,250,000 $6,250,000 (projected) Rate Increase $0 $77,500 Performance Incentive $50,000 $50,000 FY 2009 open positions $225,000 $225,000 Projected FY 10: $6,525,000 $6,602,500 Note: Open position savings: FY 2009 approved personnel budget 6,626,500 Less open positions ( 300,000) Less compensable absence ( 76,500) FY 2009 Projected $6,255,000 10
11 APPENDIX Turnover In calendar year 2008, SURS saw a slight increase in overall turnover, moving from last year s overall rate of 5.05% to 7.83%. This was due to a slight increase in resignations as well as two staff retirements, and unfortunately 2 staff deaths. Noteworthy departures were Becky Fancil and Lee Barrow, two long term process experts. Becky left with 30 years of service; Ms. Barrow with 20 years. Marge Martinie, who was a long-term employee and manager, passed away mid-year Of the three resignations, three individuals moved out of state, while the forth elected to pursue other career opportunities. The overall turnover statistics are above the 5-year average of 5.67%. SURS (January December 2008 Turnover by Reason Voluntary 3.48% Death 1.74% Retirement 1.74% All Turnover 7.83% Termination 0.87% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 11
12 SURS 5-Year Turnover Trend 5-Year Average Turnover voluntary retirement termination other total Staff Reaching Retirement Eligibility Currently there are 15 people eligible to retire. They include by operational division: Member Services Division - 6 Information Services - 8 Accounting
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