5.0 Compensation and Fringe Benefits
(amended April 2013, July 2013)
All members of the faculty annually receive from the President, on or before April 15, an annual contract specifying salary and the amounts to be paid on behalf of the member for all fringe benefits for the coming fiscal year. Salaries are paid in twelve monthly installments, beginning July 31. All Kenyon College employees must designate an automatic deposit program through a bank of their choice. Income taxes, social security taxes, TIAA/CREF Retirement Fund contributions, and insurance premiums are withheld by arrangement with the member. So also are occasional charges for services of the College.
The employment of new faculty members ordinarily begins with the start of the fiscal year, July 1. They are therefore eligible to receive their first salary payment on July 31. Questions about salary deposits, deductions, and charges should be addressed to the Payroll Manager. Additional income accruing to a member from royalties, summer work, consultations, public appearances, and the like, of course, belongs to the member, but members should keep the Provost fully informed of their extramural activities that produce income in addition to their salaries.