Merit Pay Update


3/3/14:  We regret to inform you that, this week, the union is seeking intervention from a federal mediator at the Federal Mediation and Conciliation Service (FMCS) regarding the merit salary increase for the FY 2013 rating period that ended on September 30, 2013. This increase should have been paid in January, 2014.  If the issue is not resolved through mediation at FMCS, the union will be required to seek the intervention of the Federal Service Impasses Panel (FSIP).

The SEC's current merit pay offer is materially less than what the parties agreed upon last year. Furthermore, management is continuing to insist that it allocate a disproportionate amount of its available pay-for-performance funds to the managers for FY 2013 merit pay. Under this new, two-tiered approach to performance pay, the managers would receive a larger overall percentage salary increase than the nonmanagers. NTEU and the employees that it represents continue to disagree with this highly divisive approach to compensation, which has never been the rule at the SEC, nor at the other federal regulators that the union represents.

The FY 2013 merit increase is supposed to be provided to employees for their performance during the rating year that ended on September 30, 2013. It has now been over five months since that rating period ended. The SEC should have done what every other FIRREA agency did by providing the raise in January. We know that you are depending upon the SEC to provide a merit-based increase as it has done in the past.