The IFO has secured two retirement options for faculty to choose depending on their unique circumstances. IFO representatives worked with legislators to have faculty included in a defined-benefit plan under the Teachers Retirement Association (TRA) or the option of choosing a defined-contribution plan called the Individual Retirement Account Plan (IRAP). IFO staff work hard with retirement plan administrators and the legislature to ensure the plans are always meeting the best interests of faculty. IFO staff also conduct campus workshops and individual counseling sessions to help faculty make informed decisions on which retirement programs best fit their needs.
Without a strong union, you will lose the ability to protect your retirement benefits.
Retirement Workshop Materials
The Faculty Nearing Retirement packet provides detailed information on issues including: career steps, early separation incentives, Notice of Intent to Retire forms, severance pay, supplemental retirement plans, post retirement health care, and more.
The New Faculty Retirement Issues packet provides detailed information as faculty make important retirement decisions. The packet covers issues such as: TRA vs. IRAP, supplemental retirement plans, projected accumulations, tax sheltering, health care, and more.