NYS early retirement incentive application sessions set

As announced in July, many faculty, staff and Cooperative Extension employees in the New York State Employees' Retirement System (NYSERS) or the State University of New York Optional Retirement Plan (SUNY-ORP) are eligible for an Early Retirement Incentive (ERI) program offered by New York state. Those interested must submit all retirement application forms 30 days before their projected retirement date, or by Nov. 30 at the latest. The application forms and process are complex: Benefit Services is offering ERI meetings throughout October to help employees complete the process.

Generally, all Cornell contract college faculty and staff and Cooperative Extension active employees enrolled in NYSERS or SUNY-ORP who are at least 50 years old and have at least 10 years of state service credit are eligible. Retiring NYSERS members will receive retirement benefits based on their final average salary, years of service in NYSERS and age. ORP participants will receive in their retirement accounts an amount from Cornell based on their years of service in ORP and annual salary.

Health insurance benefits can continue for retiring employees who are enrolled in the New York State Health Insurance Plan and have at least 10 years in the plan.

Assistance in completing the retirement application forms is available at any of the following meetings:

  • Oct. 11, 9 a.m.-noon, B-26 Humphreys Service Building
  • Oct. 12, 10 a.m.-1 p.m., Vet Education Center, Lecture Hall 2
  • Oct. 15, Geneva Agricultural Experiment Station, Jordan Hall; Two sessions: 9 a.m.-noon and 1-4 p.m.
  • Oct. 18, 9 a.m.-1 p.m., 229 ILR Conference Center
  • Oct. 19, 9 a.m.-noon, 100 Mann Library (Cornell Cooperative Extension only)
  • Oct. 20, 9 a.m.-noon, 326 ILR Conference Center (NYC Extension and ILR NYC employees can connect via Adobe Connect by contacting their local human resources representatives)
  • Oct. 21, 11 a.m.-2 p.m., Hagan Room, Schurman Hall
  • Oct. 22, 2:30-5:30 p.m., Call Auditorium, Kennedy Hall

No registration is needed except for Cooperative Extension and Geneva locations. Participants need to bring a government-issued photo ID and the names, dates of birth, addresses and social security numbers of their life insurance beneficiaries. NYSERS members also need to bring a copy of their passport or birth certificate and that of their NYSERS benefit beneficiary as well as a copy of their most recent NYSERS statement.

For more information, see http://www.hr.cornell.edu/benefits or contact the Benefit Services Resource Center, 130 Day Hall, 607-255-3936, e-mail benefits@cornell.edu.

 

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