As the university continues to face significant budget cuts, Miami University's leadership team has explored numerous options to try to minimize the impact on employees.
As previously announced, Miami will need to eliminate some unclassified administrative and classified staff positions. To limit the number of involuntary staff reductions, Miami is offering eligible university employees a Miami Retirement Incentive.
As part of the Miami Retirement Incentive, the university is offering a retirement incentive payment of $10,000 to classified and unclassified administrative staff who are eligible for retirement. Participation is limited to 100 employees. In the event more than 100 employees apply to participate, those employees with more continuous full-time Miami service have the right to participate before those with less service.
Applications for the Miami Retirement Incentive will be accepted from Jan. 12, 2009, through Feb. 27, 2009 and those who participate in the program must agree to resign and retire on or before July 1, 2009.
The Miami Retirement Incentive does not include the purchase of any service credit. The Miami Retirement Incentive is intended only for those employees who are or will be eligible to retire by July 1, 2009. Miami has no plans to adopt an Early Retirement Incentive Plan, under OPERS now or in the foreseeable future.
Human resources is sending letters via campus mail to those employees whose records indicate they may be eligible for this incentive. If you do not receive a letter by Wednesday, Jan. 14, and you think you might be eligible, please contact the human resources office or academic personnel services office.
It is hoped that by providing an incentive program for those who may be considering retirement, Miami may be able to limit the number of Miami employees who may be laid off or whose positions may be eliminated. If you have questions about the program, please contact human resources, at 529-3131, or Academic Personnel Services at 529-6724.
For more information, visit http://www.units.muohio.edu/prs/Personnel/MU%20Retirement%20Incentive%202009.html.