Two new voluntary retirement programs will offer a flexible option for eligible University of Pittsburgh faculty and staff. The programs, available to people who meet defined targets for age and length of service, will provide participants with a one-time financial incentive along with immediate ability to access Pitt’s standard retirement benefits package, which includes health care and education benefits for spouse/domestic partner and dependents.
These faculty and staff voluntary retirement incentive programs are part of Pitt’s strategy to continue to give employees maximum flexibility in unprecedented times. They also are part of prudent budget planning in light of the significant costs related to the University of Pittsburgh’s response to the COVID-19 pandemic.
The Faculty Retirement Incentive Program (FRIP) is available to faculty in participating schools and regional campuses with 10 continuous years of service at the University who have reached at least 65 years of age, both as of Aug. 1, 2020. The Schools of Nursing and Medicine are not participating in the program. Faculty members identified as meeting eligibility requirements were notified today via email, with additional information sent via postal mail to their home addresses. Additional details about eligibility will be posted on the Office of the Provost’s website. Faculty members who would like to opt in to FRIP should contact Stephen Wisniewski, vice provost for budget and analytics at firstname.lastname@example.org. The deadline for eligible faculty to submit an election form indicating interest in participating in the voluntary FRIP is July 1.
Similarly, the Staff Early Retirement Program (SERP) will be open to all regular staff who have served a minimum of 10 continuous years at the University and have reached 59 ½ years of age by the time of retirement. The Office of Human Resources is finalizing program details and will soon contact eligible individuals directly in the coming weeks. Details about the program will be shared on the Office of Human Resources’ website when eligible staff are notified.
Those with questions about either program are urged to contact the Office of Human Resources.