Common use of Bank Time Clause in Contracts

Bank Time. Any faculty member, with the permission of their ▇▇▇▇ and vice president, may accept teaching overloads in the class schedule of no more than .20 of a regular full-time teaching assignment per year for no additional compensation. Unless approved by the appropriate Vice-President, requests to accrue bank time must be submitted to the Office of Academic Services by July 1st (for the upcoming fall semester) and December 1st (for the upcoming spring semester). A record of such teaching overloads will be maintained in the Office of Academic Services. Upon notification to the respective ▇▇▇▇ and vice-president, instructors with accumulated overload time may draw upon such time in future semesters in order to reduce duty assignment to less than a full assignment or earn one semester of leave while receiving full salary. Unless approved by the appropriate Vice- President, requests to use bank time must be submitted to the Office of Academic Services by August 1st (for the upcoming fall semester) and January 1st (for the upcoming spring semester). Unpaid overload teaching time can accumulate to a maximum of one year’s full- time teaching assignment (30 LHE). Non–instructional faculty members are also eligible for accepting overload time of no more than .20 of a full-time load, and may bank up to one year of duty. 8.4.1 No more than the equivalent of one semester of banked duties may be drawn upon in any one academic year. 8.4.2 No more than fifteen (15) percent of the faculty may accumulate overload time during any one semester and no more than fifteen (15) percent of the faculty may draw overload time during any one semester. 8.4.3 No more that fifteen (15) percent of the faculty of any department, rounded up, may draw overload time during any one semester unless approved by the ▇▇▇▇ and vice-president. 8.4.4 Probationary bargaining unit members are entitled to accumulate overload time under this article but are not permitted to draw overload time until they have achieved tenure status. 8.4.5 A faculty member, upon retiring and having unused banked time, may elect to have this time reimbursed at the overload rate. However, no more than two semesters of unused banked time will be subject to reimbursement at retirement.