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2011 Voluntary Retirement Incentive Plan

A Voluntary Retirement Incentive Plan will be available to eligible full-time faculty and staff on all campuses in early 2011.

December 17, 2010 by Web Strategy and Development

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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.
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About Web Strategy and Development

  • Dear Colleague Vol. 1, No. 10 - June 21, 2011
  • Fiscal Year 2012 Operating Budget Approved - June 17, 2011
  • Dear Colleague Vol. 1, No. 9 - June 10, 2011
  • Fiscal Year 2011-12 Operating Budget Summary - May 13, 2011
  • JQH Arena Task Force Report - May 10, 2011
  • Dear Colleague Vol. 1, No. 8 - May 5, 2011
  • Dear Colleague Vol. 1, No. 7 - February 24, 2011
  • Missouri State responds to governor’s budget recommendation - January 20, 2011
  • Dear Colleague Vol. 1, No. 6 - December 17, 2010
  • 2011 Voluntary Retirement Incentive Plan - December 17, 2010

Filed Under: Cofer, Financial Outlook Tagged With: retirement

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