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Cost of One Percent Increase
Estimated 2023-24 Cost of One Percent Salary Increase

2022-23
Estimated Budget
2022-23
Retirement
   Adjustment
2022-23
Adjusted Base
2023-24
Cost of One Percent Salary Increase
Faculty
Salaries
$1,936,052,000 $1,936,052,000 $19,360,000
Retirement
$497,058,000 $53,822,000
$550,880,000 $5,509,000
Social Security
$134,021,000 $119,466,000 $1,340,000
Total Faculty
$2,567,131,000 $53,822,000
$2,620,953,000 $26,209,000
Staff
Salaries
$1,889,166,000

$1,889,166,000 $18,892,000
Retirement
$532,758,000 $54,713,000
$587,471,000 $5,875,000
Social Security
$120,653,000 $120,653,000 $1,206,000
Total Staff
$2,542,577,000 $54,713,000
$2,597,290,000 $25,973,000
Cost of 1%
$5,109,708,000 $108,535,000
$5,218,243,000 $52,182,000
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