The University of Oregon is extending a one-time voluntary retirement incentive offer to provide eligible employees an opportunity to retire sooner than they may have planned. It includes a financial incentive and health insurance security while also reducing long-term costs to the university as it continues to navigate and respond to financial uncertainty.
Eligible employees include tenure-related and career instructional faculty and officers of administration who have worked at the university for 15 or more cumulative years and will be age 62 or older as of June 30, 2021. The 2021 retirement incentive offer is detailed on the HR website.
Participants will sign a formal agreement and release and will retire from the University of Oregon on June 30, 2021. They will receive a compensation-based payment, and those between the ages of 62 and 65 will receive an additional payment to assist with bridging the cost of health insurance to Medicare eligibility at age 65.
Human Resources extended the 2021 retirement incentive offer to eligible employees on Monday, Nov. 16. Eligible employees must elect participation no later than 5 p.m. on Feb. 5. If an employee believes they are eligible and was not contacted by HR, they can inquire about the program by emailing email@example.com.