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Separation Incentive Program for Staff and Non-Tenure Track Faculty Offers Two End Dates

By Jody Record, Campus Journal Editor
July 7, 2010


Eligible employees can choose either Jan. 7, 2011, or June 25, 2011, if they decide to take advantage of the Separation Incentive Program being offered by the university.

Benefits-eligible staff and non-tenure track faculty members can take advantage of the university’s offer of the Separation Incentive Program (SIP) on two dates next year providing they meet the eligibility requirements.

Applications are due by Nov. 19 with either Jan. 7, 2011 or June 25, 2011 as the last day of employment. Employees who opt for the earlier separation date will have their incentive payment based on 2.5 percent of the eligible amount while those who stop working on June 25 will have their one-time payment calculated at 2 percent.

Information sessions will be held

General Session July 13, 2010 12:30pm – 1:30pm MUB Theater II
ARC Session July 21, 2010 12:00pm – 1:30pm MUB Theater II
MCP Session July 29, 2010 12:30pm – 2:00pm MUB Theater II



To be eligible for the SIP an employee must:
Be 59½ years old or older on or before last day of work.
Have at least 10 years of benefits-eligible service within USNH on or before last day of work
Not be participating in any USNH retirement program including transition to retirement.
Not currently on long-term disability or Workers’ Compensation.
Agree to separate from his or her position no later than June 25, 2011.
Employees whose positions are partially grant funded are also eligible providing the nongrant share of funding is equal to or greater than 50 percent.
Not be the subject of a disciplinary process that may lead to suspension or termination.

An employee who decides to take advantage of the SIP will receive a one-time payment within 30 days of the effective date of separation. (NOTE: Incentive payments will not be recalculated to reflect retroactive changes in salary if made at a later date.)

With an Jan. 7, 2011, end date, employees will receive a one-time payment equal to 2.5 percent times their annual base salary times years of benefits-eligible service (minimum of $15,000), plus medical benefit continuation for employee and eligible dependent(s) for up to 5½ years, not to exceed 1.5 times the employee’s current base annual salary.

Those employees who elect June 25, 2011 (or appointment/contract end date whichever comes first) as last day of work, the one-time payment will be equal to 2 percent times their annual base salary times years of benefits-eligible service (minimum of $15,000), plus medical benefit continuation for employee and eligible dependent(s) for up to 5½ years, not to exceed 1.5 times the employee’s current base annual salary.

In addition to this payment, the employee may receive:
· USNH medical coverage for up to 5½ years, or to age 65, whichever comes first. Coverage will continue through the last day of the month before the employee’s 65th birthday or the last day of the prior month if the birthday falls on the first of the month, whichever comes first. This medical coverage runs concurrent with COBRA.
· 1994 ARC Participants (with no break in service) who do not meet the ARC guarantee eligibility may receive the minimum guarantee of $10,000, reduced by life to date employer contributions as a cash payment. The cash payment will be increased by $1,000 for each full year of service in excess of 20 years reduced by life to date employer contributions.

For more information visit http://www.unh.edu/hr/sip-links-2010.htm.

 


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