FY2013 Compensation Plan

The following Compensation Plan is being submitted to the Board of Trustees for approval at its June Board Meeting:

IPS will distribute a total salary pool of 5%. The State has mandated an across-the-board increase while IPS wants to recognize meritorious performance as well. In addition, the Sibson Market Study provides sufficient information for IPS to continue closing its salary gap to reach market competitive salaries.

Categories:

 Across the Board - 2.5% for all staff who averaged at least 3.0 on APR ($1,000 minimum increase)

 Merit - .5% pool distributed

 Market/Equity - 2.0% pool considering:
     *Target (market) salary
     *Equity within agency/department
     *Equity within pay grade
     *Equity within job family
     *Percent of target

These proposed increases will result in approximately 92% of IPS staff receiving some form of increase. (92% across-the-board, 20% merit and 53% market). Staff with satisfactory work performance could conceivably receive increases in all three categories.

More information to follow when the plan is adopted.