The City University of New York is offering a two-part Early Retirement Incentive (ERI) Program to full-time staff this Fall. ERI 2010 is divided into two different programs, referred to as Part A and Part B. Eligible employees are allowed to take advantage of only one of the incentives. Please note the following changes that were necessitated to conform implementation to the pension systems’ interpretation of the statute. The changes include:
– Eligible employees may retire on any date during the applicable open period with timely written notice to CUNY and the retirement system.
– Retirement must occur within the open period. Accordingly, the effective dates of retirement in the earlier memorandum have been changed.
– The open period for instructional staff in Part A begins on December 29, 2010.