Mid Michigan College employees are automatically enrolled in the Michigan Public School Employees' Retirement System (MPSERS) as required by law. Full-time administrators and faculty members have a 90-day period from the initial start date of their full-time administrator or faculty position during which they can elect to legally opt-out of the MPSERS retirement and opt-in to an Optional Retirement Plan (ORP). Employees who transfer into full-time Administrative or Faculty positions, may elect to change to the ORP within 90 days of their effective transfer date. The College’s contribution to the ORP is 15% of gross salary.
[LAST APPROVED June 2018]
Employees who retire with a minimum of 20 years full-time employment with Mid Michigan College shall be eligible for continued tuition benefits for up to 12 credits per semester for a maximum of 62 credits, or the number of credits required to fulfill one Associates Degree of a declared major. This shall include tuition costs only, and not include fees or other related costs. IRS-eligible dependents of retired full-time persons shall be eligible for tuition benefits for courses for up to 12 credits per semester for a maximum of 62 credits, or the number of credits required to fulfill one Associates Degree of a declared major. This benefit is to be limited to tuition costs only and does not cover any related fees.
[LAST APPROVED June 2018]
Mid Michigan College offers a retirement incentive to full-time administrators.
Administrators are eligible for a retirement incentive package if their most recent 10 years of full-time service have been in an administrative capacity at the College and they meet one of the following criteria:
Individuals who meet MPSERS or ORP retirement guidelines but who have not fulfilled 10 years of continuous full-time employment in an administrative capacity at the College, can petition the Board of Trustees in writing for special consideration. If granted, the employee will be eligible to receive the administrative retirement incentive benefits at a rate no greater than the proportional part of 10 years of continuous administrative employment at the time of retirement (e.g., An employee with 7.3 years could be eligible for a maximum of 73 percent of incentive benefits of an employee with 10 continuous years of service).
The administrative employee must present the Human Resource Department with a letter of intention to retire from the College, including the date retirement will commence.
The administrative employee must leave the employment of Mid Michigan College no later than 180 days after their 62nd birthday.
The administrator’s supervisor must recommend the employee for the incentive program, using criteria of ongoing acceptable performance and acceptable performance as indicated in the administrator’s two most recent written evaluations.
The Board of Trustees retains the right to formally request that an administrative employee maintain employment with the College beyond 180 days after their 62nd birthday and still grant the retirement incentives when that employee does retire.
A full-time administrator whose employment history satisfies the minimum eligibility may be eligible for the following retirement incentive.
|
Component |
Explanation |
Years of service at the College |
||||
|
At least 10, less than 15 |
At least 15, less than 20 |
At least 20, less than 25 |
At least 25, less than 30 |
30 and Greater |
||
|
Salary |
Percentage of average annual salary earned during 12 months immediately preceding stated retirement date |
33% |
33% |
33% |
33% |
33% |
|
Sick days |
Partial payment of unused sick days as of the employee's official retirement date, paid at employee's average daily rate of pay over the previous 12 months |
17% |
21% |
25% |
29% |
33% |
"Date"
Pursuant to the retirement incentive program, as provided in the Board of Trustees Policy Manual dated August 3, 1993, as amended December 7, 1999 and any subsequent revisions per their effective date, I hereby resign my employment with Mid Michigan College and elect to retire effective __________ , ____. I understand that the only benefit I will receive as a result of retiring early and waiving my employment rights is the special Retirement Incentive Program benefits, as set forth in the Board Policy Manual.
I agree and recognize that my relationship with the College is permanently and irrevocably severed as of my retirement date. I further agree that I will not apply for or otherwise seek full-time re-employment with Mid Michigan College, or a full-time appointment at the College through a third-party vendor, and that the College has no obligation, contractual or otherwise, to re-employ me in the future.
I agree and recognize that my retirement is voluntary and, therefore, I am not entitled to any unemployment benefits. I further agree that I will not apply for or draw unemployment compensation.
In exchange for the special retirement benefits program and other consideration received by me under the Board Policy Manual, I further waive any claims arising from or relating to my employment or separation from employment including, without limitation, any claims arising under the Age Discrimination in Employment Act, but excluding any claim arising after the date of this Letter of Resignation. I further acknowledge that I have not incurred any physical or mental injuries during the course of my employment with the College which would be compensable under any Worker's Compensation Act for which I have not already received full compensation.
The foregoing waiver is made by me but shall also bind my heirs, executors, administrators, successor and assigns. The waiver will ensure to Mid Michigan College and also to its Board of Trustees, officers, employees, agents, and all predecessors, successors and assigns.
I understand that the retirement incentive program covers all full-time administrators who are covered by the Board Policy Manual and, who retire in accordance with the terms identified in the Administrative Retirement Incentive Program Policy.
I acknowledge that there are no agreements, other than the agreements referred to in this Letter of Resignation and the Board Policy Manual, with respect to my termination of employment or the benefits that I will receive upon termination of employment.
I acknowledge that I have been given a period of at least 45 days in which to consider this Letter of Separation, including the foregoing waiver, and that I have been advised to consult with an attorney before executing this Letter of Resignation.
I understand that for a period of seven (7) days following execution I may revoke this Letter of Resignation and waiver by notifying the College in writing. If not revoked in this manner, I understand this Letter of Resignation and the included waiver will become effective on the eighth day following its execution.
“Sincerely”
“Signed Name”
“Printed Name”
[LAST APPROVED June 2023]