Staff and NonTenure Track Faculty to Receive Separation Incentive Program Info This Week
By Jody Record, Campus Journal Editor
November 7, 2007
Notices to eligible staff and nontenure track faculty regarding a voluntary
Separation Incentive Program (SIP) are in the process of being sent out and
should be received by the end of the week.
Those employees who want to apply for the program must do so by April 1, 2008.
The separation dates will then be between April 18, 2008, and May 16, 2008.
To be eligible for the SIP an employee must:
--Be 59 ½ years old or older on or before May 16, 2008.
--Have been benefits-eligible within USNH for 10 years on or before May 16,
2008.
--Not be participating in a USNH early retirement program or be on long-term
disability or worker’s compensation.
--Agree to leave their position between April 18, 2008 and May 16, 2008
--Not be the subject of a disciplinary process that may lead to suspension
or termination.
Employees whose positions are partially grant funded are also eligible providing
the nongrant share of funding is equal to or greater than 50 percent.
The SIP offers:
--A one-time payment (not to exceed one year’s salary) of 2 percent
times the employee’s annual salary as of May 16, 2008, times the number
of years he or she has been benefits eligible. The annual figure does not include
overtime, longevity, shift differential, etc. Payments will be made within
30 days of the last day of employment.
--Medical coverage (exclusive of COBRA) through the university system for
up to 5 ½ years or to age 65, whichever comes first. If previously elected
and eligible, the USNH retiree medical benefits will apply, beginning at age
65. Also if eligible, the ARC payment will be paid to the employee as a contribution
to their retirement plan at the time of separation.
Combined, the medical benefits and the one-time payment may not exceed 1.5
times the employee’s current base annual salary.
USNH began using separation incentive plans in the mid-1990s as a replacement
for early retirement options. They have been offered to faculty and staff members
in the past.
Eligible employees are encouraged to attend an information session scheduled
for Nov. 28, 1-2 p.m. and Feb. 5, 2008, 1-2 p.m.. Both sessions will be held
in MUB Theater II.
General information is available on the HR webpage at www.unh.edu/hr or contact
Human Resources at 2-0501.
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