Western Illinois University's faculty union (UPI, a.k.a. AFT, affiliated with AFL-CIO) and administration have reached a tentative agreement on two years of deferred pay for faculty. The agreement sets guidelines for conditions under which pay would, or would not, be paid back. Assuming the union members vote in favor of the agreement, faculty would take 3% cuts (for now) for the next two fiscal years (FY 17 and FY 18), as well as foregoing a scheduled 1% pay hike (for now) for FY 17.
To the best of my knowledge no talks are under way at SIUC about this sort of thing, though of course the contract is being extensively discussed, and those negotiations may result in this sort of proposal being considered. At this point, though, discussions of cuts to college budgets, as far as I can tell, are not factoring in any wiggle room thanks to furloughs/deferred pay, meaning that tentative plans for cuts are almost entirely coming in the form of layoffs.