|Submission Date||June 14, 2018|
University of Texas at Austin
PA-11: Employee Compensation
|0.00 / 3.00||
Director of Human Resources
The local living wage (based on a family of four and expressed as an hourly wage):
Percentage of all employees (regular full-time, regular part-time, and temporary workers) that receive a living wage (benefits excluded):
Does the institution have employees of contractors that work on-site as part of regular and ongoing campus operations?:
Percentage of employees of contractors that work on-site as part of regular and ongoing campus operations that the institution has verified as receiving a living wage (benefits excluded) (0-100; enter ‘0’ if unknown):
The total compensation provided to the institution’s lowest paid regular (i.e., permanent) employee or pay grade meets or exceeds what percentage of the living wage?:
A brief description of the minimum total compensation provided to the institution’s lowest paid employee or pay grade, including any in-kind benefits included as part of the total compensation figure :
We have a minimum wage of 11.01 / hour or $22,884 and no employees have an annualized salary rate below this. All employee types are treated equally in this regard.
Has the institution made a formal commitment to pay a living wage?:
A copy or brief description of the institution’s written policy stating its commitment to a living wage:
Has the institution made a formal commitment to provide a living wage to its student employees and/or graduate teaching/research assistants (e.g. by adopting a student bill-of-rights)?:
A brief description of the institution’s commitment to a student living wage:
The website URL where information about the programs or initiatives is available:
Additional documentation to support the submission:
The university offers 2 options for mandatory retirement programs for employees, Teacher Retirement System of Texas (TRS) and Optional Retirement Program (ORP). TRS is a defined benefit retirement plan governed by Internal Revenue Code Section 401(a). All eligible employees of The University of Texas at Austin are automatically enrolled in TRS on their first day of employment. Employee and employer contributions go into a large trust fund that's managed by knowledgeable professionals. Retirement benefits are based on legislatively determined formulas. You are vested after attaining five years of service credit with a right to a retirement benefit. There are also disability, death and survivor benefits available to TRS members.
ORP is a defined contribution plan governed by Internal Revenue Code Section 403(b). You choose the investments made and the benefits are based on their performance. You're vested after one year and one day of participation with a right to both your and your employer's contributions. ORP is more portable than TRS. But, federal tax law prohibits 403(b) plans from providing disability benefits like those provided by TRS.
The university is required to notify ORP participants of their responsibilities. An ORP participant is responsible for the selection and monitoring of ORP companies and investments. The university has no fiduciary responsibility for the market value of a participant’s ORP investments or for the financial stability of the ORP companies chosen by the participant.
There are also voluntary retirement programs employees may choose to participate in at their own discretion.
The information presented here is self-reported. While AASHE staff review portions of all STARS reports and institutions are welcome to seek additional forms of review, the data in STARS reports are not verified by AASHE. If you believe any of this information is erroneous or inconsistent with credit criteria, please review the process for inquiring about the information reported by an institution and complete the Data Inquiry Form.