Voluntary Retirement Incentive Plans – State Classified
Congratulations on your retirement! Thank you for your continuous devotion and commitment to this University – the impact you have made on our community is immeasurable. Your collective achievements have helped support the mission and success of CSU and for that, we are all grateful.
We are pleased to have this opportunity to provide resources and information to educate our employees on retirement benefits. Once you have signed your separation agreement, please follow the guidance below on how to complete your Retirement Counseling. These sessions will utilize online resources and tools to educate you and assist you in completing the retirement process. Should you have any questions, please email our Benefits Team at HR_Retirement@colostate.edu.
Step 1: Download the Retirement Checklist
Step 3: Contact PERA at (800) 759-7372 to request your PERA benefit estimate (monthly annuity/cash value) and retirement packet, which includes the forms required to commence your PERA retirement benefit. The “Final Six Months’ Salary Report” form will be completed and returned to PERA once your final pay is computed.
Step 4: Sign the Retirement Checklist and upload it to the HR OneDrive secure portal
Step 5: Enjoy Retirement!
If you would like to review your current Benefits, please access BenefitSolver (company key: soc).
Eligible state classified employees who are approved to participate in the Plan and who execute (and do not later revoke) a Separation Agreement and General Release will receive one lump-sum payment the month following their Retirement Separation Date, equal to one week of the employee’s annual base salary (as defined in the Plan Description) for each year of retirement eligible service not to exceed 18 weeks total.
The lump-sum payment will be made during the month following the Retirement Separation Date. All legally required taxes and other withholding will be deducted from this payment. 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 wish. HR 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 45 days from when it is received.