After a successful Staff Voluntary Retirement Program (SVRP) that concluded in 2020, Brown University has established phase two of the SVRP. This second phase of the program offers eligible staff the choice of collecting a retirement incentive and departing the University on one of three potential retirement dates in 2021. The program reflects the University's ongoing commitment to maintaining the job continuity of Brown’s workforce to the best extent possible while also implementing strategies to maintain Brown’s short- and long-term financial stability. We hope this program is met with excitement by employees who meet the program criteria and choose to pursue interests beyond Brown with this new voluntary option.

Program Eligibility

The SVRP will be available to Brown staff members who meet all of the following criteria by a retirement date in 2021:

• Non-union staff member of grade 13 or below, or union staff;
• Age 60 or older as of their selected retirement date (see dates below);
• Twenty or more years of service to Brown as per their continuous service date; and
• Hold a regular position (not seasonal, temporary, contract or fixed-term), working at least 50% time.

Employees Not Eligible

• Faculty or fellows, including those with administrative appointments;
• Staff grades 14 and above; including ungraded staff; and
• Fixed term, contract or seasonal/intermittent positions.

Benefit

The highlights of the SVRP include the following:

• One year of base pay, paid on an employee’s current pay cycle on an ongoing basis beginning after the date of retirement.
• Choice of one of three potential retirement dates before the end of 2021 — October 31, November 30 or December 31 (staff must meet all eligibility criteria for the program by their elected retirement date).
• Standard eligibility to participate in Social Security and enroll in Medicare.
• Access to elect COBRA for a period of 18 months after separation from the University at the standard COBRA rates.

Timeline

• All eligible employees will receive a direct email communication on May 10, 2021, supplementing a packet of materials that will arrive at their home address with more details about the program. These packets should arrive by U.S. Mail on or before May 10, 2021.
• Signed agreements must be received either via email, DocuSign, or U.S. Mail by 5:00 PM on June 24, 2021.
• Employees electing to participate may rescind their agreement by providing written notice via email by July 1, 2021.
• Eligible employees accepting the program can elect to retire on October 31, 2021, November 30, 2021, or December 31, 2021, provided they meet the eligibility criteria for retirement by the elected retirement date.

Agreement and Waiver

To participate in the Staff Voluntary Retirement Program, eligible employees must sign an agreement, issued by Brown’s Office of General Counsel, agreeing to the terms and conditions of the incentive arrangements and releasing the University from all liability, including but not limited to liability from any employment-related claims.

Future Employment at Brown

Employees who accept the voluntary staff retirement incentive may not work at Brown University following their retirement dates, including being hired as a consultant (independent contractor) or being assigned to Brown by nextSouce, Brown’s preferred temporary employment service.

Informational Sessions

Mastering Medicare
Wednesday, June 2 at 12 PM
Join Doctor's Choice on June 2 for a webinar designed to help individuals navigate Medicare. This session begins at 12 PM and is recommended for those ages 60+ and for anyone guiding loved ones through the Medicare planning process. The workshop will help you learn the ABCDs of Medicare and how they relate to you, understand coverage gaps and how to fill them, know when and how to enroll, and explore the one big decision every retiree needs to make. Register here.
 
Social Security
Tuesday, June 8 at 12 PM 
Do you know how much your Social Security benefit will be? Who is eligible for benefits on your record? How do you file a claim for Social Security? On June 8 at noon, join Catherine LeBlanc, a Public Affairs Specialist with the Social Security Administration for answers to these questions and many more! Learn how you can estimate future Social Security benefits and if continuing to work will affect your benefit. Register here.

Individual Retirement Planning Consultations

Employees eligible for the Voluntary Staff Retirement Incentive Program may schedule an individual consultation with representatives from TIAA and Fidelity Investments. Consultations will be held on the following dates:

Fidelity investments		TIAA
Friday, May 14	Wednesday, June 9	Tuesday, May 11	Wednesday, May 26
Tuesday, May 18	Monday, June 14	Wednesday, May 12	Tuesday, June 1
Tuesday, May 25	Tuesday, June 15	Wednesday, May 19	Thursday, June 3
Tuesday, June 1	Tuesday, June 22	Tuesday, May 25	Tuesday, June 8

Eligible employees may schedule their own individual consultation with representatives from TIAA and Fidelity Investments.

To schedule an appointment with a representative from Fidelity, call 1-800-642-7131 or visit http://fidelity.com/atwork/reservations.