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- Full-time, non-temporary employees
- SERS/STRS eligibility requirements are:
- 5 years of service credit at age 60; or
- 25 years of service credit at age 55; or
- 30 years of service credit at any age
- Eligibility period is from July 1, 2013 through June 30, 2014
What is the time frame for expressing interest in the VCSI program and for signing the Letter of Intent?
- The open window for picking up a VCSI packet and signing the Letter of Intent runs from July 1, 2013 through August 30, 2013.
When do I have to separate employment?
- If you are eligible to retire at the time the incentive is officially offered on July 1, you must separate employment within six months (no later than December 31).
- If you are not eligible to retire when the incentive is officially offered on July 1 but will be become eligible by June 30, 2014, you must separate employment within six months from the date of eligibility. For example:
- If you are eligible August 1, 2013, you must separate employment on or before January 31, 2014.
- If you are eligible June 15, 2014, you must separate employment on or before December 15, 2014.
Can I extend the date of my separation beyond six months?
- An extension will only be granted if an employee is identified as a “key employee” and asked by the College to extend his/his separation date beyond six months.
- For information regarding Phased Retirement, please refer to the Policy and Procedures Manual under Chapter 3-Personnel Services, 3-39 - Phased Retirement.
Explain the 45 day wait period.
- Once you receive the Participation form and Agreement and General Release form, you will have 45 days from that date to make a decision and return the signed forms. The 45 day timeframe is due to The Older Workers Benefits Protection Act (OWBPA).
- If the 45th day falls on a weekend or holiday, you must submit your form by the following business day.
After I make a commitment to participate in the VCSI program by signing the Participation form and Agreement and General Release form, is there a timeframe in which I can change my mind and back out of the program?
- You will have seven (7) days from when you sign the Agreement and General Release form to retract your decision.
- If the seventh days fall on a weekend or holiday, you will have until the following business day.
- You must submit a formal written notice to retract your decision.
Is my effective date for separation based on my CSCC anniversary date or my eligibility retirement date?
- Your effective date for separation is based on the date you are eligible to retire from the retirement system.