Important Information on Modified Supplemental Retirement Plan
Truman State University employees considering retirement who are eligible for MOSERS “80 and Out” rule, and who are at least 50 years old with a sum of age and years of service credit equaling 80 or more, or who have 15 years of full-time service at the University and are at least 57 years of age at the time of retirement are reminded that the window for Truman’s modified supplemental retirement plan began Oct. 1 and will run through Dec. 15.
The modified supplemental retirement plan is voluntary, and the current window is for applicants for retirements before July 1, 2007. This will be the final application window for the current plan.
For employees whose applications are accepted for the Modified Supplemental Retirement Plan, the University will provide the same health insurance coverage as is available to eligible retirees until they reach 65 years of age, and the employee may purchase health coverage at the same retiree rates for their eligible dependents. The employee may purchase conversion life insurance at the same rates as other retirees.
Acceptance of application is not automatic and is subject to budgetary constraints. Preference for employee selection will be given to applicants whose positions will be eliminated or reduced in salary, or whose job descriptions will be significantly modified, after retirement. Preference will also be given to applicants whose retirement dates best accommodate the University’s budgetary limits.
The Modified Supplemental Retirement Plan Board’s full policy is defined in Section 10.110 of its Code of Policies. Visit the Modified Supplemental Retirement Plan Web site at http://hr.truman.edu/benefits/msrp/ for more information. Interested employees, or employees with questions, should contact Curt Devan, director of human resources, at devanc@truman.edu, or Matt Moore, benefits coordinator, at mrmoore@truman.edu.
The modified supplemental retirement plan is voluntary, and the current window is for applicants for retirements before July 1, 2007. This will be the final application window for the current plan.
For employees whose applications are accepted for the Modified Supplemental Retirement Plan, the University will provide the same health insurance coverage as is available to eligible retirees until they reach 65 years of age, and the employee may purchase health coverage at the same retiree rates for their eligible dependents. The employee may purchase conversion life insurance at the same rates as other retirees.
Acceptance of application is not automatic and is subject to budgetary constraints. Preference for employee selection will be given to applicants whose positions will be eliminated or reduced in salary, or whose job descriptions will be significantly modified, after retirement. Preference will also be given to applicants whose retirement dates best accommodate the University’s budgetary limits.
The Modified Supplemental Retirement Plan Board’s full policy is defined in Section 10.110 of its Code of Policies. Visit the Modified Supplemental Retirement Plan Web site at http://hr.truman.edu/benefits/msrp/ for more information. Interested employees, or employees with questions, should contact Curt Devan, director of human resources, at devanc@truman.edu, or Matt Moore, benefits coordinator, at mrmoore@truman.edu.
