Chancellor's early retirement rec details

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Chancellor's early retirement rec details

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

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