After careful consideration, Wright State University is offering a voluntary, enhanced retirement option for retirement-eligible faculty members. This program, called the Faculty Voluntary Retirement Incentive Program is being offered to all retirement-eligible faulty members.
This offer is completely voluntary. Employment status will not be affected if the offer is declined.
Keep in mind that the process for determining eligibility for the program is very different from the process for identifying those who may receive an involuntary reduction. Eligibility for the program is open to retirement-eligible faculty members.
Eligible faculty members who take advantage of the program will receive plan payments and enhanced benefits. The opportunity to elect the program will be available from Monday, March 16, 2020 through Wednesday, May 27, 2020 at 2:00 p.m.
Eligible faculty members can take advantage of this voluntary program by completing the application materials. HR must receive the signed materials no later than Wednesday, May 27, 2020 at 2:00 p.m.
If you wish to take advantage of the program, your first day in retirement will be:
- Wednesday, July 1, 2020, or
- Saturday, August 1, 2020 (with approved summer teaching)
Eligible faculty members are encouraged to review all the information about this program and make a decision as soon as possible after the election window opens on March 16, 2020.
Program Implementation Timeline
- FVRIP Materials Mailed to Eligible Employees: By March 13, 2020
- FVRIP Posted to HR Website: By March 13, 2020
- Election Period: March 16, 2020 - May 27, 2020
- Educational Sessions: Late March and April 2020
- Program Election Deadline: By 2:00 p.m., May 27, 2020
- Faculty Separation Date: June 30, 2020
- With Approved Summer Teaching: July 31, 2020
- Faculty First Day in Retirement Status: July 1, 2020
- With Approved Summer Teaching: August 1, 2020
- Revocation Period : May 28, 2020 - June 5, 2020 at 2:00 p.m.
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.