Eligible SMU faculty members will receive a salary bonus of $1,860 each in their Nov. 30, 2015, paychecks through projected available resources from the Lester A. and Stella Porter Russell Fund.
SMU’s Office of the Provost has identified 686 faculty members as eligible according to the parameters set by Stella Porter Russell in her will. The net amounts received by individuals will vary based on each person’s employment tax withholdings.
The annual supplement was awarded to 678 faculty members in 2014. Every year the amount of the supplement is based on the number of faculty who are eligible, the expected spending distribution from the endowment, and the effect of current investment market conditions on the endowment.
In her will, Russell stipulated that SMU establish an endowment fund in memory of her late husband and herself, to be used to supplement University faculty salaries.