Plan Descriptions

  • VRIP non-phased for retirement eligible full-time teaching faculty
    • Option A: Voluntary Retirement Incentive Plan (VRIP) non-phased is being offered to eligible full-time tenured or tenure-track teaching faculty who work through the end of the Fall 2024 semester and who voluntarily retire effective December 31, 2024. This population would be eligible to receive salary continuation (incentive) through June 30, 2025 and also receive a one-time lump sum (incentive) equal to $1,000 for each year of full-time, continuous active service with MCC up to a maximum of 20 years. The one-time lump sum is payable in the Spring 2025 semester, on or by June 30, 2025. All other rules apply as outlined per Article 27 of the Faculty Association Collective Bargaining Agreement (PDF) with respect to retirement.
    • Option B: Voluntary Retirement Incentive Plan (VRIP) non-phased is being offered to eligible full-time tenured or tenure-track teaching faculty who work through the full year, until the end of the Spring 2025 semester and who voluntarily retire effective June 30, 2025.  This population would not be eligible for salary continuation but would be eligible to receive a one-time lump sum (incentive) equal to $1,000 for each year of full-time, continuous, active service with MCC up to a maximum of 20 years.  The one-time lump sum is payable the beginning of the Fall 2025 semester, on or by September 1, 2025.  All other rules apply as outlined per Article 27 of the Faculty Association Collective Bargaining Agreement (PDF) with respect to retirement.
  • VRIP phased for retirement eligible full-time teaching faculty:  Voluntary Retirement Incentive Plan (VRIP) phased is being offered to eligible full-time tenured or tenure-track teaching faculty, who, in exchange for their notice to retire and reduce their contact hours and corresponding base salary, will receive a one-time lump sum incentive. The lump sum incentive amount depends on the academic year the employee elects to voluntarily retire from the College. Specifically, those who elect to retire in Year 2, or in academic year 2025-2026 with a retirement date of June 30, 2026, will be eligible for a one-time lump sum of $15,000 (incentive). Those who elect to retire in Year 3, or in academic year 2026-2027, with a retirement date of June 30, 2027, will be eligible for a one-time lump sum of $10,000 (incentive). All other rules associated with Phased Retirement apply as outlined in Article 27, Section E. However, once the application is approved, the employee will maintain current rank and tenure, including continuation of their basic due process protections under Article 7 through the date of retirement on a non-precedent setting basis so long as they maintain an acceptable standard of performance throughout the phased period. Approved lump sum incentive will be payable following the employee’s final payroll. All other rules apply as outlined per Article 27 of the Faculty Association Collective Bargaining Agreement (PDF) with respect to retirement.
  • VSIP non-phased for non-retirement eligible full-time teaching faculty: Voluntary Separation Incentive Plan (VSIP) non-phased is being offered to eligible full-time tenured or tenure-track teaching faculty who elect to voluntarily resign from the College and agree to work through the full academic year 2024-2025. Eligibility for VSIP will be dependent on academic program sustainability. Faculty members who are approved, agree to voluntarily resign effective June 30, 2025 and then become eligible to receive salary continuation (incentive) through the end of the Fall 2025 semester or through December 31, 2025. Effective July 1, 2025, these employees will be eligible to apply for COBRA.

Rules

  • Only full-time tenured or tenure-track teaching faculty are eligible to apply.
  • Eligible full-time tenured or tenure-track teaching faculty will have a minimum of 60 calendar days from the time these incentives are announced to apply to a voluntary separation incentive plan of their choosing.
  • All applications will undergo a review and approval process to ensure eligibility and impact on continuity of students’ learning experience — which includes, but is not limited to, academic program sustainability.
  • Eligible employees can voluntarily elect only one (1) incentive plan option for review and approval.
  • The above incentives cannot be combined with each other or applied to other incentives already outlined with the Faculty Association Collective Bargaining Agreement (PDF).
  • Approved employees will need to timely sign, return to Human Resources, and not revoke a Separation Release Agreement in order to receive the plan incentive(s).
  • Once Human Resources receives your signed, non-revoked Separation Release Agreement, your voluntary retirement or resignation from the College is irrevocable.
  • Deadline for application submission: August 16, 2024 (by 5:00 pm EST).
  • Employees who submitted an application for consideration, will be advised if their application is or is not approved on or before September 20, 2024.
  • If the application is denied for retirement eligibility reasons, the reason for denial will be shared within the email and will include HR contact information if the employee has additional questions.
  • If the application is denied due to risk to continuity of students’ learning experience, including program completion and sustainability, your Vice President will schedule time to discuss with you directly the reason why your application was not accepted.