Voluntary Retirement Incentive Program Announced for Full-Time Faculty, Staff and Administrators

Feb. 13, 2017

Voluntary Retirement Incentive Program Announced for Full-Time Faculty, Staff and Administrators
Human resources announcement

Starting Feb. 15, 2017, Webster University will offer a voluntary retirement incentive program for full-time employees who are at least 60 years old who meet specific service criteria. The program was developed after hearing increasing requests from faculty and staff for a retirement incentive program. The Board of Trustees approved the program at their January meeting.

“This is purely a voluntary program and was designed for faculty and staff who are considering retirement but are looking for a bit of financial assistance in making that transition,” said Julian Schuster, the provost, senior vice president and chief operating officer at Webster University. “We value the hard work and commitment of our long-term employees and understand that their contributions over the years have helped mold Webster into the great institution that it is.”

Eligibility is based on a combination of age and years of service as of May 31, 2017. Under the plan, approved participants will be eligible for a lump sum retirement incentive payment following their separation from Webster. Those who are not yet Medicare eligible will be able to continue medical, dental and vision insurance at the same cost as active employees until the sooner of becoming eligible for Medicare for another group medical, dental or vision plan. The last day to apply for the program will be April 15, 2017.

Full details of the program are available under the faculty and staff tabs of the Connections site. Eligible employees also will receive copies of the plans and other details in the mail at their homes.

Employee meetings have been scheduled to answers questions about the plan from eligible participants. The meeting schedule appears below.

Please review the documents that appear on the Connections. Questions about the program should be sent to humanresources@webster.edu.

Information Meetings for Eligible FACULTY Participants

Thursday         February 16, 2017                  12:00 noon – 1:00 pm               EAB 102

Friday              February 17, 2017                  1:00 pm – 2:00 pm                   EAB 137

Tuesday           February 21, 2017                  3:00 pm – 4:00 pm                  EAB 137

Thursday         February 23, 2017                   4:00 pm – 5:00 pm                  EAB 102

Information Meetings for Eligible STAFF Participants

Wednesday     February 15, 2017                   12:00 noon – 1:00 pm               EAB 102

Friday              February 17, 2017                  11:30 am – 12:30 pm                EAB 137*

Wednesday     February 22, 2017                   2:00 pm – 3:00 pm                   EAB 137*

Friday              February 24, 2017                  10:00 am – 11:00 am                EAB 253/262

*Sessions marked with an asterisk indicate that the session will be available via VIDYO link for staff at extended campuses. They will be notified via email in regard to the necessary link.

 

 

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