Ferris State University and the Ferris Faculty Association have reached an agreement that provides a five-year contract for full-time faculty members the FFA represents.
The main elements of the agreement are salary increases of 2.25 percent for the first four years, a 2.5-percent increase in year five and a supplemental market adjustment of $300,000 annually to provide pay equity for some of the most in-demand faculty positions.
FFA membership ratified the agreement with a vote on Monday, July 15, while the Ferris Board of Trustees approved the pact on Friday, July 19. The contract, which takes effect July 19 and runs through June 30, 2018, covers about 440 faculty members.
"We are pleased to have a five-year contract with the Ferris Faculty Association and pleased that an agreement was reached well before the start of the fall semester," said Ferris Board of Trustees Chairman Gary Granger. "The contract creates a sustainable structure for healthcare coverage while providing very competitive salary increases for our faculty members, who are our core academic resource."
The main portion of Ferris' 2013-14 academic year commences with the start of fall-semester classes on Monday, Aug. 26. In the fall of 2012, Ferris enrolled 14,533 students system-wide, a figure that included 10,039 students on the university's Big Rapids campus.
"I want to thank the Ferris Faculty Association and our Board of Trustees for the commitment it took to get this landmark agreement in place," said Ferris President David Eisler. "This contract creates a certainty about the future that will help the university concentrate on our students and their paths to both graduation and successful careers."