Reverse Fordham University's Cuts to Faculty and Staff Retirement Benefits


Reverse Fordham University's Cuts to Faculty and Staff Retirement Benefits
The Issue
This time of hardship requires sacrifices from all of us. After all, that is the crux of Fordham University’s cura personalis mantra, each of us caring for the whole of us. It is one thing to preach that message, but it is another to live it. Recent decisions by the Fordham University administration prove that they solely preach it. Those actions, regarding the treatment of the hardworking Fordham faculty and staff, reek of hypocrisy and disdain.
As is the case across most industries, COVID-19 led to a budget crunch at Fordham. This was largely avoidable, however: Fordham knew that their emergency fund needed an increase but failed to do so. A 2016 report by the Middle States Commission on Higher Education said Fordham was too dependent on student-raised funds, which was over 90% of their income. What is clear is Fordham knew they had to increase revenue even before the pandemic hit. Their futile attempt to solve this crisis led to a 3.3% tuition raise during the global pandemic, disenfranchising numerous students and families. Unfortunately, one cannot slam on the brakes after the car has gone off the cliff.
The University’s decision to suspend all faculty and staff retirement benefits, in this lens, becomes even more ludicrous. This action does not only affect our professors. In fact, it affects everyone at Fordham: from the facilities management team, to the dining staff, to public safety, and everyone in between. The consequences are dire: on average, a faculty member stands to lose more than $60,000 in retirement contributions with this policy. Even more disturbing, the combined total of the administration’s pay cuts? $0. That is right, the administration officials are not cutting their own salaries while the faculty have to see their benefits cut. This hypocrisy goes even further when you look at how the administration, in a time of austerity, is spending money pursuing the frivolous SJP lawsuit. That is likely to be wasted money spent on legal fees and definitely not “austerity”. Balancing the budget on the backs of the faculty and staff is a giant middle finger to the hardest working people at this University.
Faculty should not bear the brunt of a flawed university budget scheme. Our professors are there for us 24/7. They have been our teachers, but also have provided moral and emotional support to us. They have gone above and beyond in making this difficult semester a true success. The dedicated facilities team has kept the building sterile and sanitized during the COVID-19 pandemic. Without their meticulous cleaning and constant disinfecting, there would actually be no semester.
So, who are we and why are we writing this? We are Fordham Students Against Austerity; a student advocacy group formed to oppose draconian austerity cuts and support our faculty and staff. We ask for a complete reinstatement of faculty retirement benefits. What is clear to us is this: Fordham University is using COVID-19 to pursue its goal of austerity-on-demand. If administrators are not cutting their own salaries nor the outsized athletics budget and are pursuing fruitless legal action, while faculty have their retirement benefits cut, what type of message does that send to us students? “Cura personalis for me, not for thee.” If the administration had a sense of the values they have been preaching, they would reverse these draconian cuts to the faculty who have been working very hard. Each of us working for the whole of us only can work if those preaching it live by their values. Until they do, we strongly support the faculty’s lawsuit. They have sacrificed tremendous hours to make this semester a success. Yanking their benefits from them is the cruelest form of injustice.
Sincerely,
Fordham Students Against Austerity
The Issue
This time of hardship requires sacrifices from all of us. After all, that is the crux of Fordham University’s cura personalis mantra, each of us caring for the whole of us. It is one thing to preach that message, but it is another to live it. Recent decisions by the Fordham University administration prove that they solely preach it. Those actions, regarding the treatment of the hardworking Fordham faculty and staff, reek of hypocrisy and disdain.
As is the case across most industries, COVID-19 led to a budget crunch at Fordham. This was largely avoidable, however: Fordham knew that their emergency fund needed an increase but failed to do so. A 2016 report by the Middle States Commission on Higher Education said Fordham was too dependent on student-raised funds, which was over 90% of their income. What is clear is Fordham knew they had to increase revenue even before the pandemic hit. Their futile attempt to solve this crisis led to a 3.3% tuition raise during the global pandemic, disenfranchising numerous students and families. Unfortunately, one cannot slam on the brakes after the car has gone off the cliff.
The University’s decision to suspend all faculty and staff retirement benefits, in this lens, becomes even more ludicrous. This action does not only affect our professors. In fact, it affects everyone at Fordham: from the facilities management team, to the dining staff, to public safety, and everyone in between. The consequences are dire: on average, a faculty member stands to lose more than $60,000 in retirement contributions with this policy. Even more disturbing, the combined total of the administration’s pay cuts? $0. That is right, the administration officials are not cutting their own salaries while the faculty have to see their benefits cut. This hypocrisy goes even further when you look at how the administration, in a time of austerity, is spending money pursuing the frivolous SJP lawsuit. That is likely to be wasted money spent on legal fees and definitely not “austerity”. Balancing the budget on the backs of the faculty and staff is a giant middle finger to the hardest working people at this University.
Faculty should not bear the brunt of a flawed university budget scheme. Our professors are there for us 24/7. They have been our teachers, but also have provided moral and emotional support to us. They have gone above and beyond in making this difficult semester a true success. The dedicated facilities team has kept the building sterile and sanitized during the COVID-19 pandemic. Without their meticulous cleaning and constant disinfecting, there would actually be no semester.
So, who are we and why are we writing this? We are Fordham Students Against Austerity; a student advocacy group formed to oppose draconian austerity cuts and support our faculty and staff. We ask for a complete reinstatement of faculty retirement benefits. What is clear to us is this: Fordham University is using COVID-19 to pursue its goal of austerity-on-demand. If administrators are not cutting their own salaries nor the outsized athletics budget and are pursuing fruitless legal action, while faculty have their retirement benefits cut, what type of message does that send to us students? “Cura personalis for me, not for thee.” If the administration had a sense of the values they have been preaching, they would reverse these draconian cuts to the faculty who have been working very hard. Each of us working for the whole of us only can work if those preaching it live by their values. Until they do, we strongly support the faculty’s lawsuit. They have sacrificed tremendous hours to make this semester a success. Yanking their benefits from them is the cruelest form of injustice.
Sincerely,
Fordham Students Against Austerity
Victory
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The Decision Makers
Petition created on November 30, 2020