New Faculty Workshop
The workshop for new faculty was held from 2:00-3:00 pm on Friday, August 18th in CMU 203 with Dick Kaspari from the IFO and 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.
If you missed Dick Kaspari's presentation on Friday, August 18th, click the link below to catch all of his good information for new faculty on the benefits that come with the position at MSUM.
Faculty Nearing Retirement Workshop
If you missed Dick Kaspari's Faculty Nearing Retirement Workshops on September 6th and 7th, here is the link to the video:
The workshops for those faculty nearing retirement (contemplating retirement within the next 5 years) and considering an early separation incentive package will be held again this coming fall on Wednesday, September 6th from 1-2pm and Thursday, September 7th from 9-10am in CMU 203. Topics covered will include:
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.
At each workshop, Dick will distribute retirement preparation checklists, information on notification dates, form letters for giving retirement notification and applying for benefits, and a list phone numbers, addresses, and web links with retirement planning resources.
Dick will also be on campus providing one on one consultations with faculty on Wednesday, September 6th and Thursday, September 7th. Sign up information has been e-mailed out. If you need the link, please e-mail firstname.lastname@example.org or email@example.com.