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Voluntary Staff Retirement Incentive

Over the past several months, many Brown community members suggested that the University consider a staff early retirement program as part of the University's overall deficit reduction strategy. After careful review it was concluded that this incentive would assist the University in reducing compensation costs and create additional vacancies to be used in the redesign of our administrative structures under the Organizational Review. Also, a number of employees may find the incentive program helpful in achieving their personal retirement goals.

Eligible staff received information by mail prior to November 9th and have until December 23rd to elect to participate in this voluntary program by submitting a signed agreement to Human Resources. The University is not planning a similar offering in the future, and once the 45 day election window ends eligible staff will not be able to opt into the program.

Eligible staff who choose to participate in the program will receive a lump sum payment equal to one year of their base salary (minus federal and state taxes) plus a lump sum payment of $15,000 for retirement transition costs (also minus federal and state taxes). They may continue participating in Brown’s health insurance plan until age 65 with an $83/month (2010 rate, indexed annually) contribution from the University under Brown’s pre-Medicare Subsidy Benefit program. Eligible employees may opt to retire on April 15, 2010, or on June 30, 2010. However, employees must be 60 and must have 10 years of continuous service in their current period of employment on the regular payroll on or before their preferred retirement date.

Further information including Frequently Asked Questions (FAQs) for staff and supervisors as well as a list of available contacts and a summary of the incentive are available by using the embedded links on this page and on the Human Resources website.