MCC Daily Tribune Archive

New York State Chapter 45 Retirement Incentive – NYSUT Mandatory


Pursuant to Chapter 45 of the Laws of 2010, Monroe Community College is mandated to adopt and implement this NYSUT retirement incentive. (See background below.) The required open period of election for this incentive is October 3, 2010 through December 31, 2010. This will be presented to our Board of Trustees on August 9 for their formal adoption. All eligible employees will be contacted directly by Human Resources this week.

All optional retirement incentives will not be presented to the Board of Trustees.

Background:
Chapter 45 authorizes a mandatory retirement incentive for the 2010/2011 fiscal year.  Participation in the program is open to members of NYSUT affiliated bargaining units only.

Coverage includes members of the New York State and Local Employees’ Retirement System and the New York State Teachers’ Retirement System in Tiers 2, 3, and 4.  Eligible employees must be at least 55 years of age and have at least 25 years of service as of the date of retirement.  An employee eligible for the incentive would be able to retire without the reductions normally required of Tier 2, 3, and 4 members under age 62 with fewer than 30 years of service.

Please contact the Human Resources Office representatives listed below if you have any questions. 
Karen Rheinheimer, Benefits Manager, ext. 2113
Martha Maher-Garcia, Associate Director, ext. 2114
Alberta Lee, Director, ext. 2117

Human Resources Team
Human Resources
07/21/2010