Early Retirement Incentive Program Approved

The Ferris Board of Trustees recently approved an early retirement incentive program.

The program was approved on Feb. 23. This opportunity is currently available to only CTA, AFSCME, POLC (Police) I, POLC (Police) II unions, administration and administrative support employees.

Warren Hills, associate vice president of human resources, said, “They would need to have an application completed and in my hands by Friday, Mar. 26.”

While union members have proposed questions as to whom will be replaced after an employee retires, Hills said they have no idea and that issue is up to the vice presidents of administration and affairs.

Hills said he vice presidents do not have any standard number right now and that the issue involves an individual standard that will need to be examined.

Hills said this program is being offered to full-time employees in the categories listed for those who have worked in the university for 10 years or more.

Requirements must be met by the Teacher’s Union contract expiration on June 30, 2010.

This program requires vice presidents to determine if cost savings from a particular resignation would be meaningful and reserves their right to grant or deny an application from an otherwise qualified employee.

“This has nothing to do with part-time employment,” said Hills.

The program is not being offered to Ferris faculty at this time, according to Hills.

“We are in the midst of negotiations with them,” said Hills. Hills declined to comment on the current state of the negotiations taking place.

Those who choose to apply must fill out an application and sign an agreement form indicating they will abide by the rules and regulations.

Hills indicated that about only 30 people have applied so far.

“We’re only really in the first week of accepting applications,” said Hills. “It gets to only be kind of a relative thing.”

There is an application available for those who qualify. The qualifications include employees with at least 10 years of full-time, continuous employment with the university and who have not already announced or applied for retirement.

The ERIP application, resignation agreement form, and plan description can be found on Ferris’ Web site. Further questions can be answered by contacting Hills at ext. 3879. Applications can be dropped off at Hills’ office in Prakken 150. n