Chancellor’s Early Retirement Recommendation

• Current early retirees and those retiring before July 1, 2013– What stays the same?

• Same qualifications to retire early• Same healthcare and incentive pay benefits• Same bumping rights remain

– What changes?• Premium pay limited to 3 work units in FY 12• Premium pay for 0 work units thereafter • Pay rate goes to adjunct rate of pay for faculty and temporary

rate schedule for staff and administrative roles for the remaining eligible work units

Chancellor’s Early Retirement Recommendation

• Those retiring July 1, 2013 and after– No early retirement incentive program means:• No incentive payment• No bumping rights• Adjunct rate of pay for faculty and temporary rate

schedule for staff and administrative roles for 13.86 work units or 550 hours.• MCC healthcare offered to regular retirees at their own

expense