At its meeting on March 29, the Hudson Valley Community College Board of Trustees approved the following:
Faculty Retirement Incentive for 2022
The College is offering a retirement incentive for faculty only, which includes librarians, educational specialists and teaching faculty.
The incentive has two (2) options: one for retirement at the end of this Academic year (2021/2022) and one with retirement at the end of the next Academic year (2022/2023).
No matter which option you elect, your irrevocable notice of retirement must be made prior to May 15, 2022.
To be considered eligible, the faculty member must be at least fifty-five (55) years old with twenty (20) years of full-time equivalent service at Hudson Valley Community College with a combined total of age and service totaling at least seventy-five (75) years.
The two (2) options offered are:
1. Retirement at the end of the 2021/2022 Academic Year with full salary and health insurance through August 31, 2022. A one (1) time payout of up to one-half (1/2) of the faculty member’s 2021/2022 annual salary up to a maximum of $40,000, which will be paid by separate check. The payout will be based on annual salary alone (not to include overload, stipends, etc.)
2. Retirement at the end of the 2022/2023 Academic Year with full salary and health insurance through August 31, 2023. A one (1) time payout of twenty percent (20%) of the faculty member’s 2022/2023 annual salary which will be paid by separate check. The payout will be based on annual salary alone (not to include overload, stipends, etc.) And a two (2) semester reduced load of one-half (1/2) the annual normal assigned workload not to exceed sixteen (16) hours for the 2022/2023 academic year. The reduced load does not reduce the annual salary to be paid nor does it limit voluntary overload instruction.
Contact Human Resources (HR@hvcc.edu) for more information or assistance.
Printable version: Faculty Retirement Incentive for 2022
Published: Wed, 30 Mar 2022 12:10:57 +0000 by k.paquette