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2011 Early Retirement Incentive Program Details and Important Dates for Non-Covered Employees

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5 diapositives · 215 Views · Jul 31, 2014

The Early Retirement Incentive Program for 2011 provides critical information for employees not covered by the YSU/ACE Agreement. To participate, submit the irrevocable notice of intent to retire along with the Application for Participation & Record of Separation before December 31, 2010. Retirement dates are available from February 1, 2011, to March 1, 2012. Changes to retirement dates must be communicated three months in advance. Additional eligibility and documentation requirements need to be met. Visit the Human Resources website for the updated participation list.

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2011 Early Retirement Incentive Program Details and Important Dates for Non-Covered Employees
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  1. Early Retirement Incentive Program 2011 APAS/Excluded Professional Administrative Plan

  2. Important Dates Complete and sign the irrevocable notice of intent to retire on the Application for Participation & Record of Separation for Employees NOT Covered by the YSU/ACE Agreement Form by December 31, 2010. . (Please note, if you do not submit notice by December 30, 2010 you will move to the bottom of the second tier participation list.) Retirement Dates can range from February 1, 2011 through March 1, 2012.

  3. Retirement Process The completed Application for Participation & Record of Separation form must be submitted to the Benefits Area of Human Resources. Any changes to the retirement date listed on the Application for Participation & Record of Separation Form must be communicated at least three months prior to the actual retirement date but no later than November 1, 2011. Any additional eligible non-ACE bargaining unit employees from the first 100 who submitted their irrevocable notice after December 30, 2010 will be at the bottom of the participation list.

  4. Retirement Process Cont. • If any service credit has been purchased by non-payroll deduction after June 30, 2009 and you are not already in the first 100 on the list, you must notify the Executive Director of Financial Services. • Human Resources/Benefits will prepare for the employee’s signature, Form F111C (ERIP Employee and Employer’s Agreement Form). Participating employees must submit to Human Resources/Benefits the following at the time the employee signs Form 111c: • Proof of birth • Proof of any legal name change • Human Resources/Benefits will send the completed Form F111c to OPERS. Absolutely no changes can be made after OPERS has received the form.

  5. Additional Information An updated participation list has been posted to the Human Resources website at http://www.ysu.edu/hr/.