The SUNY Board of Trustees approved two early retirement incentive programs at its June 29 meeting. The programs are designed to further cut costs for SUNY through voluntary employee reduction incentive programs.

The first incentive program requires eligible employees to be at least 50 years old with a minimum 10 years of service. SUNY will determine the job titles that qualify for the early retirement program. Employees enrolled in the Optional Retirement Program (ORP) who are deemed eligible to participate will receive a contribution of one month’s pay for each year of service multiplied by 15 percent, multiplied by their salary, up to a maximum of 45 percent of their salary. Employees enrolled in the Employees’ Retirement System (ERS) or Teachers’ Retirement System (TRS) who qualify will receive an additional service credit of one month for each year of credited service, up to a maximum of 36 months. Retirements must occur by Dec. 31.

The second incentive program is more limited, applying to ERS and TRS members in Tiers 2, 3 and 4. Employees must be between the ages of 55 and 61 and have at least 25 years of service. SUNY has the power to exclude positions from the incentive deemed critical for the maintenance of health and safety. Retirements must take place by Sept. 30.

Among other actions, the SUNY board approved a resolution to explore the feasibility of having Upstate Medical University purchase Community General Hospital, located in Syracuse.

— Donald Feldstein