KALAMAZOO, Mich. (WOOD) — Western Michigan University announced eligible faculty and staff would receive a one-time bonus to help deal with the costs associated with high inflation rates.
In September, eligible employees will receive a one-time lump-sum payment of $1,000. While another group of eligible workers will get a single payment of $500, according to WMU.
“Ongoing forces unfolding on a global scale have pushed inflation to heights not seen in decades in our country. Recognizing the financial strain of these present times and with gratitude for your work at Western, the Board of Trustees and I are pleased to announce a one-time, lump-sum payment for eligible faculty and staff,” WMU President Edward Montgomery said in a letter to employees.
Montgomery ended the letter by thanking faculty and staff for their “continuous efforts to educate and support our students and to strengthen and enrich our global community.”
“The University assesses departments a fringe rate against compensation for benefits-eligible employees. In that, actual expenses turned out to be less than planned, the University had a favorable year. And these savings are what is being used for the lump-sum payment,” said Paula Davis, a spokesperson for WMU.
The university noted that the payments are subject to taxes.