EIU faculty have voted to accept a union proposal to defer a substantial chunk of their last paychecks of this year to help EIU deal with the budget crisis. The EIU administration has agreed to abide by the terms of the plan, which will require that faculty be paid back out of 50% of any state funding (including for MAP grants) for FY 2016 or FY 2017.
Faculty earlier voted to reject a plan that made repayment contingent on standard state funding (minus MAP grants) for FY 2016. The approved plan also distributes cuts progressively, with higher paid faculty taking a larger cut. The EIU administration initially expressed some concerns about the new proposal, but seems to have decided to accept it once the faculty had done so.
The deal amounts to some $2 million.