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Oral Anticoagulation Indications and Contraindications

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Oral Anticoagulation Indications and Contraindications Powered By Docstoc
					PIP Membership Meeting
    March 19, 2003
Agenda
Approval of 1/31/03 meeting minutes
Brief review of PIP allocation formula issue
Brief review of PIP fringe costs issue
Discussion of PIP policy committee plan
 School negotiated
 Member negotiated

Elections
 PIP Allocation Formula Issue
 school negotiated contracts
Current Administration of PIP
   20% of extramural contract salary and fringe
    benefits are allocated to the PIP member’s
    account
Problem
 Inconsistent with TT accounting practices and
  perceived as “double-dipping” (PIP member
  receives 100% of fringe benefits from TT and
  20% of contracted fringe as a salary
  augmentation)
 Inconsistent with the research incentive program.
 PIP Fringe Costs Issue
 school & member negotiated contracts

Current Administration of PIP
   When a PIP member elects to take money from
    his/her PIP account as salary augmentation,
    federally mandated fringe costs are absorbed by
    TT rather than deducted from the augmentation.
Problem
   Inconsistent with PIP bylaws and TT accounting
    practices.
    PIP Policy Committee Plan
    If approved, to be implemented 8/1/03

School negotiated contracts
 Change allocation formula from 20% of salary and
  benefits to 25% of salary
 Deduct fringe costs from PIP member’s salary
  augmentations
Member negotiated contracts
 Increase the allocation of money into the PIP
  member’s account by 5% across all income intervals
 Deduct fringe costs from PIP member’s salary
  augmentations
    School negotiated contract example
    $70,000 salary + 28% benefits, 25% FTE

Current                            Proposed
   salary: $70,000                    salary: $70,000
   salary+benefits: $89,600           contracted salary: $17,500
        Salary x 1.28                      salary x 0.25
   contract: $22,400                  member funds: $4,375
        $89,600 x 0.25 FTE                 $17,500 x 0.25 FTE
   member funds: $4,480               salary augmentation
        $22,400 x 0.20                 $4,375 – fringe – taxes
   salary augmentation:                $4,025 – taxes*
    $4,480 – taxes*

           *A difference of $296 annually after taxes
    Member negotiated contract example
    Contract for services earning $6,000 per year

Current                             Proposed
   contract amount: $6,000             Contract amount: $6,000
   member funds: $5,100                Member funds: $5,400
        $6,000 x 0.85                       $6,000 x 0.90
   salary augmentation:                Salary augmentation:
    $5,100 – taxes*                      $5,400 – fringe – taxes
                                         $4,968 – taxes*


           *A difference of $86 annually after taxes
Elections
PIP president elect
Member at large

				
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