At its Dec. 17, 2010, meeting, the Board of Governors approved the following Voluntary Retirement Incentive Plan. See the Dear Colleague letter for additional information.

Incentives

Select only one:

• 25% of base salary with a minimum payment of $10,000 and a maximum payment of $25,000
• University paid health insurance for the employee only until age 65

Timing of offer: Feb. 1–March 17

• Applications/paperwork will be accepted beginning Feb. 1
• Open for 45 days (to March 17)

Retirement date

• May 1, 2011–Jan. 1, 2012 (staff)
• June 1, 2011–Feb. 1, 2012 (faculty)
• With the specific date subject to University approval

Participation limit

• First 100 people to submit required paperwork (staff)
• First 50 people to submit required paperwork (faculty)

Eligibility

• Must be eligible to retire by retirement date chosen, as defined by the plan to which the employee is a member — either MOSERS or CURP
• For all eligible faculty and staff on all campuses (Springfield, West Plains, Mountain Grove)

Post retirement engagement

• Limited to half-time engagement for up to three years in separate contracts for faculty, and 1,000 hour engagement for staff on a case by case basis
  Restrictions are sometimes placed on the amount of work an employee can perform for a covered institution and still remain eligible for retirement benefits under MOSERS or CURP. In some instances, MOSERS may prohibit additional benefits if an employee returns to work in a MOSERS benefit eligible position. Eligible employees are responsible for knowing and complying with any such prohibitions and restrictions.