- May 19, 2011
- Principals & Deans
- Angela Hildyard, Vice-President, Human Resources and Equity
- Retirement Incentive Program for Professional / Managerial and Confidential Staff
Following the announcement of the Special Retirement program for UTFA, many Professional, Managerial and Confidential staff members asked us to consider developing a program for them. In response, a short term Retirement Incentive Program, intended to stimulate renewal and facilitate human resource planning within all divisions, was developed in consultation with the Human Resource Management Board. This program was approved by Business Board on May 5, 2011.
The program provides for a lump sum retiring allowance of two weeks salary per year of completed service, to a maximum of 52 weeks. Eligible employees must apply by January 31, 2012 and the retirement date must fall between April 30, 2012 and June 30, 2014. Applications, including the retirement date, are subject to approval at the discretion of the Division Head.
Once approved, the date of retirement is irrevocable. The cost of the retirement incentive is to be paid by the approving division.
The staff member must be eligible for an unreduced pension as of the date of retirement elected:
- aged 60 with age + service equal to at least 80 for Confidentials and P/M 1-5; OR,
- aged 60 or more plus 15 years pensionable service for P/M 6-9; OR,
- at or beyond normal retirement date (NRD) for all groups.
- Eligible staff must apply prior to January 31, 2012
- The retirement date should be the end of any month from April 30, 2012 to June 30, 2014
In considering applications for approval, you may wish to consider the following:
- Will the retirement provide career opportunities for other staff within your division?
- Will the retirement facilitate or enable organizational change that might otherwise not occur?
- If the proposed retirement is likely to impact negatively upon the operations of the department or division, are there ways to mitigate such impact – for example through the timing of the proposed retirement?
- If several applications are received, might the retirement dates be spread across the full time period (i.e. April 30, 2012 to June 30 2014) in order to reduce the annual fiscal cost impact and the operational impact?
Although each Division – whether academic or administrative – faces very different operational requirements, it is important that divisional discretion in terms of the approval of applications is
exercised in a consistent manner. We strongly recommend that your Divisional HR Manager
assist you in the review and approval process. My office will work with the Divisional HR
Managers to establish a common approval process.
By separate email Division Heads will receive a list of Professional/Managerial and Confidential employees in their Divisions who will qualify for this program on or before June 30, 2014.
Should you have any questions regarding this list, please contact your divisional HR office for assistance.
The new program will be announced to Professionals/Managers and Confidential staff early next week.
Cc HR Divisional Offices