Section 28 RETIREMENT

1. Retirement.  The University will continue to participate in the retirement plan as required by State law.

2. Employees first employed on or after January 1, 1996, are eligible for participation in a defined contribution retirement programs as made available through the University and selected by the employee.  The program will begin effective the date of hire.  Eligible employees include those hired into positions with an annualized full-time equivalent (FTE) of 0.5 or greater.

3. Employees in the bargaining unit have the option of participating in the Retirement Supplemental Voluntary Program (RSVP), subject to the current provisions of the program.

4. Employees in the bargaining unit will be offered the same enhanced early retirement option being offered to the employees not covered by a collective bargaining agreement.