Eligibility

Employees eligible to take their retirement benefit, reduced or unreduced, by September 30, 2016 (for staff employees) or by December 31, 2016 (for faculty employees) are eligible for the Voluntary Retirement Incentive Program. 

Retirement eligible is defined by the system in which employees participate as follows:

  • The State Teachers Retirement System, or STRS, defines retirement eligible as:
    • ​​In the Defined Benefit Plan and Combined Plan: At any age with 31 years of service or age 65 with 5 years of service for an unreduced retirement benefit, and at any age with 30 years of service, age 55 with 26 years of service or age 60 with 5 years of service for a reduced retirement benefit.
    • In the Defined Contribution Plan:  At age 50 with any service requirement.
       
  • The Ohio Public Employees Retirement System, or OPERS, defines retirement eligible as:
    • In the Traditional Plan and Combined Plan:  At any age with 30 years of service or age 65 with 5 years of service for an unreduced benefit, and at age 55 with 25 years of service or age 60 with 5 years of service for a reduced retirement benefit.
    • In the Member Directed Plan:  At age 55 with any service requirement.
       
  • The Ohio Public Employees Retirement System-Law Enforcement, or OPERS-LE, defines retirement eligible as age 48 with 25 years of service or age 62 with 15 years of service for an unreduced retirement benefit, and at age 52 with 15 years of service for a reduced retirement benefit.
     
  • The Alternative Retirement Plan, or ARP, defines retirement eligible as age 59½ with any service requirement.

Those not eligible include employees who previously retired prior to May 2, 2016 from the university; part-time, on-call employees; special contract employees; and those given notice by the university prior to May 2, 2016.

 

 

This information provides you with details of the Voluntary Retirement Incentive Program available from Wright State University. More complete information about the offer can be found in the official plan documents.  If there are any differences between this information and the official plan documents, the official plan documents shall govern.