Upcoming COLA and Merit
Dear Colleagues,
I am very pleased to share that Gov. Wes Moore has approved the budget that includes a cost-of-living adjustment (COLA) and merit pay increase for eligible University of Maryland, Baltimore (UMB) employees. I appreciate everything that you do for UMB and am glad to share this news.
All eligible regular faculty and staff will receive a 3.0 percent COLA. In addition, merit increases for all eligible faculty and staff who receive an evaluation rating of “Meets Standards” or above, or the equivalent for faculty, will receive a 2.5 percent increase.
I know that Human Resource Services (HRS) previously communicated an expected higher merit pool for employees. Unfortunately, the UMB budget allocation from the Department of Budget and Management did not align with that expectation. We also are delaying the implementation of the new variable merit structure. Going forward, merit increases will be based on performance evaluation ratings, combined with a method to reward top performers. We expect the new structure to be in place for the next state-funded merit increases.
Eligible employees will see the COLA and merit increases in their Aug. 2, 2024, paycheck, which will include a retroactive pay adjustment to reflect the July 1, 2024, effective date.
Note for the School of Medicine (UMSOM): The application of merit increases payments for eligible clinical faculty, non-clinical faculty, and staff may be distributed differently, based on the availability of state-funded support and clinical income, including contractual income, to support these adjustments. The UMSOM Dean’s Office will communicate additional information within the school.
I am pleased that UMB employees will receive these increases. Additional details on COLA and merit eligibility can be found within the UMB Compensation Guidelines. If you have questions, please contact HRS at HRComp@umaryland.edu.
Thank you for your continued dedication and commitment to UMB and to those we serve.
Sincerely,
Bruce E. Jarrell, MD, FACS
President
