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Presentation to 2006 Board of Governors Orientation

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Presentation to 2006 Board of Governors Orientation Powered By Docstoc
					     Information Session for
          Administrators
Voluntary Retirement Incentive Program 2010
                      “VRIP-2010”

                       http://www.hrs.ualberta.ca/
          Select the VRIP link under News & Announcements.
             The link is the first in the list so is easy to find
              Why VRIP?
• A tool to reduce involuntary lay-offs.

• Not a cost-savings device on its own.

• Assists Units in balancing support and
  academic position closures.


                                           2
    Involuntary Options - Operating
• Article 32 of the Faculty Agreement
• Article 31 of the FSO Agreement
• Article 22 of the APO Agreement
• Article 27 of the CAST and SOTS
  Agreements
• Article 20 of the NASA Agreement


                                        3
          Eligibility - Academic
• As of July 31, 2010:
  – 55 years of age or older
  – 10 years of continuous University service and
    employed as:
     • Faculty
     • APO
     • Faculty Service Officer
     • Librarian
  – Staff members in contingent positions will be eligible only
    where the funding source permits the payment of a Retiring
    Allowance.

                                                                  4
         Eligibility – Support
              You Must:
• Be 55 years of age or older, as of
  Jul 31/10
• Have 10 years of University pensionable
  service, as of Jul 31/10
• Be employed as a Regular Operating
  employee, as of Dec. 23/09
• Retire on or before Jul 31/10
        (You do not have to be full-time)

                                            5
         Other Considerations
• Not eligible for any re-employment or direct
  contracts for services at the University for a
  period of 12 or 15 months.

• Options for those not eligible for VRIP.

• Arrangements for those on Disability Leave –
  Support and Academic.

                                                   6
           Flow of Application
March 1st ~ Staff Member applies
   RECOMMENDATIONS OF
   Chair/Director/Supervisor OR Manager
   Dean/Vice-Provost/Vice-President OR Dean/Director

 April 15th ~ Staff Member may withdraw
DECISION Provost or Vice-President
   Dean/Vice-Provost/Vice-President OR Dean/Director

April 30th ~ Staff Member notified in
 person and receives copy of form.
                                                        7
        The Application Form
RECOMMENDATION :
    approve                         deny

If DENIED, please indicate reason(s):
        Employee is not eligible
        essential to strategic plan
        specialized skill set
        compromises operational efficiency
        essential to academic objectives
        compromises fiscal integrity
        essential to operational/administrative objectives
        other _______________________________




                                                             8
            Basics - Support
• Retirement date is no later than Jul 31, 2010.
• The “VRIP Allowance” of 12 or 15 months is
  base salary - may be received in two lump
  sum payments.
• Bridge Benefits withholding of $10K or $25K.
• Vacation pay-in-lieu to be calculated.
• The value of the budgeted salary is the March
  31, 2010 salary rate.
• Benefits are calculated at 23%.
                                                   9
          Basics - Academic
• Single retirement date of July 31, 2010.
• The “VRIP Allowance” of 12 or 15 months is
  base salary plus market supplement - may
  be received in two lump sum payments.
• Vacation pay-in-lieu to be calculated.
• The value of the budgeted salary is the June
  30, 2010 salary rate.
• Benefits are calculated at 20%.

                                                 10
         Budget Considerations
(1) The value the VRIP allowance is based upon the
    June 30, 2010 salary for academic staff or the
    March 31, 2010 salary for support staff.
(2) The June 30, 2010 salary plus benefits for academic
    staff or the March 31, 2010 salary plus benefits for
    support staff are the values used in 2011-12 for
    collapsed positions.
(3) All Scenarios use $120,000 annual budgeted salary
    plus annual budgeted benefits of $ 24,000 (20%) for
    academic staff or $ 27,600 (23%) for support staff.
(4) All Scenarios use the 12-month VRIP allowance and
    one payment date.                                      11
         #1 – Position is Collapsed in
                   2010-11
  •   NOTE: ASSUMES THAT UNIT HAS DISCRETIONARY FUNDING AVAILABLE.

                                                                             Budgeted
SUPPORT (NO BRIDGE)                                                           Salary +
OR ACADEMIC                            Timing                                 Benefits
New Fiscal Year 2010-11             01-Apr-10                                $144,000
Salary + Benefits Paid           Apr to Jul-10                                -$48,000
POSITION COLLAPSED*                01-Aug-10     (8/12 Credit in 2010-11)     $96,000
ON 01-AUG-2010                       01-Apr-11 (4/12 Credit in 2011-12)         $48,000
VRIP Paid – Discretionary
Funds from Unit                      31-Aug-10                                -$120,000
* If the Unit can also cover the Apr to Jul-10 Salary + Benefits from discretionary
funds, then full credit of $144,000 will be received in 2010-2011.


                                                                                          12
      #2 – Position is Collapsed in
                2011-12
SUPPORT (NO BRIDGE)                                                     Budgeted
OR ACADEMIC                     Timing                           Salary + Benefits
New Fiscal Year 2010-11      01-Apr-10                                  $144,000
Salary + Benefits Paid     Apr to Jul-10                                 -$48,000
VRIP Paid - Budget Funds     31-Aug-10                                 -$120,000
Negative Flex                31-Mar-11                                   -$24,000
New Fiscal Year 2011-12      01-Apr-11                                  $144,000
Negative Flex                01-Apr-11                                   -$24,000
POSITION COLLAPSED           01-Aug-11     (Credit in 2011-12)          $120,000
ON O1-AUG-2011               01-Apr-12     (Credit in 2012-13)           $24,000



                                                                                     13
     #3 – Position is Not Collapsed
SUPPORT (NO BRIDGE)                                                   Budgeted
OR ACADEMIC                                                    Salary + Benefits
New Fiscal Year 2010-11                                                $144,000
Salary + Benefits Paid              Apr to Jul-10                       -$48,000
VRIP Paid - Budget Funds              31-Aug-10                       -$120,000
Negative Flex                         31-Mar-11                         -$24,000
Budget received for Negative Flex     01-Apr-11                         $24,000
VACANCY IS AVAILABLE -                              Salary + Benefits set at 8/12
"NORMAL" RULES APPLY                  01-Aug-11        of the Floor/Market Rate




                                                                                    14
                #4 – Support Position is
                 Collapsed in 2011-12
                                                                             Budgeted
                                                                              Salary +
SUPPORT OPTING FOR BRIDGE BENEFITS                                            Benefits
New Fiscal Year 2010-11                      01-Apr-10                       $144,000
Salary Paid                                Apr to Jul-10                      -$48,000
VRIP Paid - Budget Funds                     31-Aug-10                       -$110,000
Bridge Benefits Payment transferred from
Unit to Support Benefits Account             31-Aug-10                        -$10,000
Negative Flex                                31-Mar-11                        -$24,000
Budget received for Negative Flex            01-Apr-11                        $24,000
POSITION COLLAPSED                           01-Aug-11 (Credit in 2011-12)   $120,000
ON O1-AUG-2011                               01-Apr-12 (Credit in 2012-13)    $24,000

                                                                                         15
   Who to Contact for Advice
– If the potential retiree is a member of the Faculty
  or FSO Agreement, please contact Faculty
  Relations.

– If the potential retiree is a member of the APO or
  Librarian Agreement, please contact your Human
  Resources Consultant.

– For Budget Questions, please contact Resource
  Planning or Faculty Relations.

                                                        16

				
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