The Special Retirement Incentive Program announced last month (MIT Tech Talk, December 6) is provoking wide interest around the Institute and the Benefits Office is gearing up to be sure everyone's questions are answered.
Nearly 1,400 members of the community have been notified that they are eligible for the one-time program which applies to all employees who are at least 55 years old with 10 years or more of benefits-eligible service at MIT. The decision to take advantage of the program must be made between March 1 and April 30. To help people make informed decisions, the following activities are planned.
- A series of general questions and answers appears in today's issue on page 9.
- The program will be the focus of a series of mini-meetings the Benefits Office will hold over the next two weeks. The informal, 45-minute meetings will be held at noon and 1pm to answer questions on retirement benefits including health and life insurance and the Retirement Plans. Employees are invited to bring their lunch to one of the meetings which will be held as follows: Thursday, Jan. 25, Rm 68-180; Friday, Jan. 26, Rm 68-121; Friday, Feb. 2, Tuesday, Feb. 6, and Thursday, Feb. 8, Rm E19-220.
- ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½An all-day retirement seminar will be held Wednesday, Jan. 31, at the Faculty Club from 10am-4pm. Presentations will include topics such as Social Security and Medicare, MIT retiree health insurance, the Retirement Plans, the TIAA-CREF income options and an open question-and-answer forum. Seating is limited so reservations are required. Prospective retirees may bring a spouse, other family member or friend. Reservations may be made by calling x3-4276 and leaving your name, department and phone number.
- ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½An information page has been established on the World Wide Web at .
- Brochures giving detailed information on the Special Retirement Incentive Program are being printed and are scheduled to be distributed to everyone who is eligible by early February.
- ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½ï¿½Detailed statements with personalized calculations will be mailed to each eligible employee by mid-February.
Because it is expected that the 1996 retirement group will be at least twice as large as normal, the Benefits Office is organizing a special team to handle arrangements. A temporary office is being set up in Building 16 that will be staffed by additional benefits counselors to give individual advice to everyone who seeks it. Extra telephone lines are also being installed so that people with questions can find answers quickly. The special office will open when the personalized statements are mailed.
A version of this article appeared in MIT Tech Talk on January 24, 1996.