McMaster University Faculty Association (MUFA) and McMaster University have reached a remuneration settlement that covers the three-year period from July 1, 1999 to June 30, 2002, subject to ratification by MUFA members.

The proposed agreement includes the following salary increases and other economic benefits:

July 1, 1999 - career progress/ merit awards based on 120 par units per 100 faculty; salary increases of 1.25% of June 30, 1999 salaries (Nov. 1, 1999); professional development allowance increased to $1272 (May 1, 1999); and a pension holiday of 50% of employee contributions with a corresponding adjustment of the termination benefit.

July 1, 2000 - career progress/ merit awards based on 120 par units per 100 faculty; salary increases of 0.5% of June 30, 2000 salaries; salary floors, inflection points and values of career progress/merit par steps increased by 1.75%; professional development allowance increased to $1285 (May 1, 2000); pension holiday of 50% of employee contributions with a corresponding adjustment of the termination benefit; and a one-time payment on July 15, 2000, to faculty who are employed on July 1, 2000, to compensate for past delays in the allocation of career progress/ merit awards earned in the period 1994-1998.

July 1, 2001 - career progress/ merit awards based on 120 par units per 100 faculty; salary increases of 1.25% of June 30, 2001 salaries (Oct. 1, 2001); salary floors, inflection points and values of career progress/merit steps increased by 1.25% (Oct. 1, 2001); professional development allowance increased to $1300 (May 1, 2001); and a pension holiday of 50% of employee contributions with a corresponding adjustment of the termination benefit.