Eligible faculty members received a salary bonus of $2,200 each in their November paychecks, through projected available resources from the Lester A. and Stella Porter Russell Fund. The Office of the Provost has identified 629 faculty members as eligible according to the parameters set by Stella Porter Russell in her will. Read more.
The annual supplement increased by $200, or 10 percent, from last year’s $2,000, awarded to 615 faculty members. The net amounts received by individuals will vary based on each person’s employment tax withholdings.
The amount projected for the supplement generally depends on the number of eligible recipients and the total income generated by the endowment. As of October 2007, the fund’s endowment was valued at more than $43.6 million, says John O’Connor, associate vice president and controller.
In her will, Russell stipulated that SMU establish an endowment fund in memory of her late husband and herself, to be used to supplement SMU faculty salaries.
For more information and questions about eligibility, e-mail Associate Provost Ellen Jackofsky.