Building on the College’s current early retirement option for faculty members, for this year, we are offering expanded retirement options for faculty, especially those over 65 years of age, and for all employees.
The program is open to all full-time staff, faculty, and union members who have been employed by the College for 15 or more years and are 59 ½ years of age or older. We recently wrote to the eligible employees who qualify for the retirement program, which is being offered on a seniority basis. Those interested in taking advantage of the option should submit a non-binding Statement of Interest by April 30, 2014 and be prepared to finalize their retirement on July 1, 2014.
To ensure eligible employees have the necessary information to make well-informed decisions, the College offered two general information sessions on Monday, April 14, 2014. These general sessions provided detailed information about the plan and answer any employee questions about retirement. The general sessions will include presentations by outside experts on social security, our TIAA-CREF retirement plan, and our Tufts health plan. Handouts can be found here:
- Social Security - by Kurt Czarnowski (.pdf)
- TIAA-CREF - "Income Options in Retirement" - by Dan Samson (.pdf)
- Tufts Health Retiree Plan Options (.pdf)
In addition to the general sessions that provided employees with extra resources and advice, the Human Resources office will be offering individual planning sessions. Eligible employees who wish to be considered for this plan should notify the Human Resources Office on or before Wednesday, April 30, 2014.
There are several variables within this retirement program based on an employee’s status as a staff member, faculty member, or union member. We have been encouraging employees to review the program materials to call us with specific questions about the structure of the plan as it applies to them individually.
For more information, or to study the details of the program, please review the following two documents:
2014 Voluntary Separation Program Plan (.pdf) (password protected)
2014 Voluntary Separation Program Frequently Asked Questions (.pdf) (password protected)