SECTION H. PAYMENT TO ENCOURAGE SAVINGS
In order to encourage and support the establishment of a voluntary savings plan, all House Officers will receive a lump sum payment, equivalent to a stated percentage of base salary on the November pay date each year. This provision is intended to be an on-going and recurring program. The HOA and the Employer have agreed to consider the lump sum payment as a benefit. As such, this payment will not be considered a part of base salary, but is considered part of the total compensation package. Annual Payments to Encourage Savings are listed below in paragraph 54 of this agreement.
The parties agree with the underlying principle of equity, with the standard being that each House Officer will receive one annual lump sum payment for each House Officer level within their residency/fellowship program. For example, the Family Medicine program has a three-year residency training requirement; therefore, a payment for each of these three years will be issued annually to a House Officer in the Family Medicine program.
At the time of processing these payments, House Officers on an unpaid leave of absence will not be eligible to receive the lump sum payment. Upon return to the training program the House Officer will receive their lump sum payment for that training year within sixty (60) days of their return.
Exceptions to this standard may apply in the event a House Officer's appointment is extended beyond the standard residency/fellowship program term or a House Officer resigns or is discharged from a residency/fellowship program. Extensions to one's standard residency/fellowship program could result from a paid leave, remediation, or elective research and are approved by Residency Review Committee or Program Board. In these cases, additional lump sum payment(s) will be paid out according to the following time frames:
|Appointment extension (based on appointment year)||Portion of lump sum payment paid out|
|More than 6 and less than 12 months||50%|
|Less than or equal to 6 months||0%|
If a House Officer resigns or is discharged from a residency program after receiving a lump sum payment, then any over payment, based upon the time frames listed above, will be deducted from the House Officer's final pay check.
Lump Sum payments that are for appointment extensions related to an elective research track will be paid from Medical School Delta Funds or Department Funds.
The specific payments made in November of each year, will be paid according to the salary schedule that includes the amount for the lump sum, or pro-rated for appointments less than a 100% FTE or for appointment extensions as stated above. These lump sum amounts are calculated on the basis of the stated specific percentage of the annual base salaries, as identified in the salary schedule.
Lump Sum Payment Table
|Lump Sum Payment Table|
|HO LEVEL||FY21 11/30/20||FY22 11/30/21||FY23 11/30/22|