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Monday, Sep 22, 2014

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Linda Lonsinger

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HR offers VESP and ERIP consultation


On Monday, Chief Human Resource Officer Linda Lonsinger sent an e-mail to all Ohio University employees regarding Human Resources offering consultations on Early Retirement Incentive Plans (ERIP) and Voluntary Employment Separation Plans (VESP).

Dear Faculty and Staff,

As you may be aware, on Feb. 25 the Ohio University Board of Trustees approved a resolution authorizing President Roderick J. McDavis to establish and implement a set of Early Retirement Incentive Plans (ERIP) and Voluntary Employment Separation Plans (VESP).  President McDavis sent an e-mail to faculty and staff on Friday indicating his decision to move forward with the ERIP and VESP proposals presented to the University on Feb. 21.

The purpose of this message is to inform you that beginning March 7 Ohio University Human Resources specialists will be available from 1-4 p.m. on Mondays, Wednesdays and Fridays to meet with individuals who are considering one of the ERIP or VESP opportunities.  We recommend that you make an appointment by calling (740)593-1636.  Walk-in appointments are also available but cannot be guaranteed, as those who schedule appointments will have priority.  Please note that the Payroll Office is not equipped to provide you information about the plans.

The Human Resources staff that will be available to meet with Ohio University employees considering early retirement or voluntary separation options are knowledgeable about a range of benefit issues, but they cannot provide financial advice.  You are recommended to seek the advice of a professional financial advisor as you weigh your choices.

If you are eligible for either the ERIP or VESP, I encourage you to review the information on these voluntary plans and the relevant deadlines for enrollment.  You can find eligibility information, plan information, deadlines, and frequently asked questions at the web addresses below. 

Worth noting are two key dates.  April 4, 2011 is the first day that individuals can sign up for an ERIP or VESP.  In order to receive the cash bonuses associated with some of the plans, you must declare your intention to accept by May 2, 2011.

In considering your options, I also urge you to visit the OPERS (https://www.opers.org/) and STRS (https://www.strsoh.org/) websites and make time to travel to Columbus to speak with an OPERS or STRS adviser, as appropriate.  Please be aware that Ohio University does not have access to the type of OPERS/STRS information that you might need in determining whether an ERIP or VESP is the best choice for you.

OPERS is located at 277 East Town Street in Columbus (1-800-222-7377). STRS is located at 275 E. Broad St. in Columbus (1-888-227-7877).

While each individual's situation is different, anyone considering participating in voluntary opportunities such as these would be well advised to get all the information possible before making a decision. Please know that my team and I are ready to help you take the course of action that you deem best for you and your family.

Sincerely,

Linda Lonsinger
Chief Human Resources Officer