CUNY Board Adopts State Early Retirement Plan

At its June meeting, the Board of Trustees approved the University’s participation in a Retirement Incentive Program provided by the State. Part A of the Incentive provides certain eligible employees, who are age 50 or over with at least 10 years of service, with the opportunity to retire. Part B provides certain eligible employees in New York City’s teachers’ retirement system, Board of Education retirement system, or employees’ retirement system who are 55 or over with at least 25 years of service with an opportunity to retire without benefit reductions that would ordinarily apply.

Full-time faculty and full-time non-teaching instructional staff, except those in the Executive Compensation Plan, are eligible to participate. Full-time classified staff are eligible to participate, except those in the titles of Campus Public Safety Officer, Campus Security Officer, Campus Peace Officer, Campus Security Specialist, Stationary Engineer, Senior Stationary Engineer and Oiler. A determination, not yet made, regarding the eligibility of staff in Gittleson titles will be reported on the CUNY website.

The open period to participate in Part A is October 31, 2002 through January 28, 2003 for eligible instructional staff employees and October 3, 2002 through December 31, 2002 for eligible classified staff. The open period for all eligible employees to participate in Part B is October 31, 2002 through January 28, 2003. Eligible employees will be notified of their eligibility and of the details of the Incentive. Employees seeking additional information at this time should contact the Personnel Office at their college.