To read more information on COLA & Merit Increases in FY2024, see the UMBC Community News post here. If you have questions or need additional guidance, please consult your supervisor.
Cost of Living Adjustment (COLA)
All Regular faculty and staff, Contingent II staff, and graduate assistants will receive a 2 percent COLA increase, effective July 1, 2023. Eligible employees must have been on the university payroll since June 30, 2023, to be eligible for the COLA.
Merit Increases
A 2.5 percent merit pool, effective July 1, 2023, will be distributed to each division and applies to Regular faculty and staff and Contingent II staff. Merit increases will be based on a PMP overall rating of "effective" or better for the rating period of April 1, 2022, through March 31, 2023 (if a PMP was not submitted for an eligible employee for that period, the overall rating will be considered "effective").
Eligibility
Regular exempt staff must have been in an eligible position prior to January 15, 2023, to be considered for a merit increase. Contingent II staff must have been in an eligible position prior to January 1, 2023, (nonexempt staff) or January 15, 2023, (exempt staff) to be considered for a merit increase.
For 12-month employees, the increases will be reflected in your paycheck dated July 21, 2023.
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