The application period for the voluntary retirement incentive plans (VRIP) ended on June 30, 2020. We are excited and pleased to help approved employees with the next part of their journey. The resources and forms below will help ensure a smooth transition into retirement. After you have reviewed these items, be sure to contact Human Resources to schedule a virtual counseling session with a member of the benefits team. 

Incentive Summary

Eligible faculty and administrative professionals who are approved for the VRIP and retire from the University in accordance with the Plan will receive a lump-sum payment equal to one week of the employee’s annual base salary (as of June 30, 2020 for 12 month appointees and the end of the most recent academic year for 9 month appointees) for each year of retirement eligible service not to exceed 30 weeks total.

Base salary does not include temporary salary adjustments or other supplements given as part of a temporary assignment of administrative or
other duties or summer session for 9-month faculty. The incentive payment does not count as “earnings” for any benefit purposes, including Colorado PERA. These payments are not eligible for pretax deferral.

Approved employees were emailed a copy of the separation agreement and general release on July 6, 2020. You have 45 days to consider this Agreement and should consult with an attorney if you wishHR is not able to give you legal advice regarding the agreement.  The separation agreement and general release needs to signed and returned to HR no later than August 19, 2020.  Please note that this is two days later than stated in the VRIP plan document – CSU has extended the deadline.

Retirement Forms & Resources