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Chancellor's early retirement rec details

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  • 1. Chancellor’s Early Retirement Recommendation
    Current early retirees and those retiring before July 1, 2013
    What stays the same?
    Same qualifications to retire early
    Same healthcare and incentive pay benefits
    Same bumping rights remain
    What changes?
    Premium pay limited to 3 work units in FY 12
    Premium pay for 0 work units thereafter
    Pay rate goes to adjunct rate of pay for faculty and temporary rate schedule for staff and administrative roles for the remaining eligible work units
  • 2. Chancellor’s Early Retirement Recommendation
    Those retiring July 1, 2013 and after
    No early retirement incentive program means:
    No incentive payment
    No bumping rights
    Adjunct rate of pay for faculty and temporary rate schedule for staff and administrative roles for 13.86 work units or 550 hours.
    MCC healthcare offered to regular retirees at their own expense