Usf early retirement incentive program

Early retirement incentive payments will cease the first day of the month following the 5-year period or the FRA, whichever occurs first. This annual adjustment will normally be at the same salary rate as that given to University employees performing at a satisfactory level. The early retirement incentive base may never exceed the estimated single Social Security benefit available to the individual at FRA.

The retiree will have the applicable share of the medical and dental premiums deducted from the monthly early retirement incentive payment. If the early retiree or spouse reaches Medicare eligibility age , he or she will be removed from the University medical plan and encouraged to apply for Medicare.

Continuation of the dental plans is allowed for the duration of the early retirement agreement. Incentive payments shall be paid in monthly installments annual incentive base divided by twelve for a maximum of 6 years or until FRA as a bridge to future social security benefits.

Early retirement incentive payments will cease the first day of the month following the 6-year period or the FRA, whichever occurs first. For information about the plans, click the appropriate links below. We understand that the transition into retirement is a significant event which, at times, can be emotional and challenging. Overview The University of South Florida provides employees the opportunity to participate in different retirement and savings programs.

Retirement Options for Faculty and Administration All Faculty and Administration employees are required to participate in one of three retirement plans sponsored by the State of Florida. Compensation to upper administration. Proportion of compensation to upper administration. The upper-administration compensation data for is overestimated because the individual list sent to USF for the request included several administrators who joined upper ranks in the middle of or in However, I suspect the figures above are close to what would be an exact amount.

The chapter will make a similar request in early February to cover the calendar year While the news has been terrible, it appears so far that the Florida Retirement System FRS remains relatively stable and well diversified.

While not immune from the losses occurring across the financial markets, Florida seems better positioned than almost every other state when it comes to the overall funding and performance of our retirement system. The total exposure represents less than 0. The Treasury is proceeding with an orderly liquidation of the subordinated debt this month.

Under my direction, the Treasury has tightened its investment decisions and limited exposure to any one individual corporation. While our nation is experiencing significant financial disorder, investment firms can and do fail from time to time, and investors must position portfolios to weather financial storms. All USF salary data are public records, and last year, USF closed off the public-access on-campus username for GEMS, we were told because the auditor said that username could be a back-door path to private information.

The chapter then decided to occasionally draw down the data and make it public, which would serve the public interest without endangering the private information USF has a legitimate interest in protecting.

I asked him if he was worried about selling his house. The implication for those who are teaching in the summer is that courses must be planned with the knowledge that class days falling on a holiday cannot be rescheduled. Smith is correct in reading the contract language. The following language is from Article An employee shall be entitled to observe all official holidays designated as holidays by the University, which shall at a minimum include those holidays designated in Fla.

Section No classes shall be scheduled on designated holidays. Classes not held because of a holiday shall not be rescheduled [emphasis added].

The choices of how to adjust to holidays—or any cancellation of classes think hurricanes and flu —should remain with the instructor for the class according to her or his best professional judgment. April 20, Contact your legislators now. Conference Committees began meeting yesterday, April 19, and are scheduled to continue meeting into the coming weekend.

This morning the Government Operations Conference Committee held a meeting where Conferees indicated that they were informed that the health insurance subsidy bill, H. Alexander and Rep. You help is still needed throughout these Conference Committee meetings.

Contact your Senators and Representatives and urge them to oppose any changes to FRS retirement benefits. Urge your Legislators to tell Conference Committee members that they are opposed to any changes to FRS retirement benefits.

Minutes B. Membership C. New officers and council members D. Legislative session E. Reports F. For the good of the order. Posted in Announcements Comments Closed. March 5: Below are an e-mail circulated by HR Friday and a Word version of the application attached to the e-mail:. Pete HR website :. Interested employees in the faculty pay plan should contact Donna Pepper for more information , dpepper admin. Posted in Announcements , News , Salaries etc. The ballots are in the mail to chapter members for the chapter elections.