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Fall 2013 Calendar
(Senate, Executive Council, Meet & Confer)
News - December 5, 2013
If you missed it, below are the handouts from today's special Meet and Confer session:
Special Meet and Confer sessions to discuss the possibility of retrenchment are
December 5 (9-11am) and December 20 (9-10am) in the CMU Ballroom.
If you missed Russ Stanton's presentations, which covered the information listed below, here are the links to the workshop videos:
Russ Stanton, IFO Director of Government Relations, presented 2 workshops for those faculty nearing retirement and considering an early separation incentive package, and 1 workshop for new MSU Moorhead faculty members - adjunct, fixed term, and probationary, as well as newly tenured faculty members.
The workshops for those faculty nearing retirement (contemplating retirement within the next 5 years) and considering an early separation incentive package. They covered:
Contractual and statutory provisions relating to retirement including:
• The final year two-step increase.
• The early separation incentive.
• Severance pay.
• Retiree health care and the postretirement tax-free healthcare savings plan.
• The career steps.
• TRA: Annuitization options, acceleration options, postretirement cost of living adjustments.
• Phased retirement and the Annuitant Employment Program.
• Tax sheltering options, including the new Roth TSA.
• Healthcare Reimbursement Arrangements (HRA’s) and how they relate to retirement.
The workshop for new faculty covered:
* A feature-by-feature comparison of IRAP and TRA, as well as the strengths and weaknesses of each plan. This comparison is designed to help faculty members choose the plan that best fits their career pattern.
* An explanation of the various components of MnSCU’s retirement plans, including Social Security and Medicare, the basic pension plans (IRAP and TRA), the College Supplemental Retirement Plan, Tax Sheltered Annuities (including the Roth TSA), the State Deferred Compensation Plan, and the tax-free healthcare savings plans.
The IFO does not sell, endorse, or receive fees from the sale of any retirement products or services. The IFO’s goal is to provide objective information that is useful to members.