Barriers to offering early retirement incentives

Question

Are there any barriers to offering early retirement incentives? Coupled with the option of casual employment, this could represent significant savings.

Response

As implemented in the past, a retirement incentive program would have to be a systemwide initiative, requiring legislative action and approval by the State of Alaska Division of Retirement and Benefits. Additionally, the number of employees in the Optional Retirement Program would limit the feasibility.

There may be options within targeted groups to encourage buyouts of retirement-eligible employees. If you have ideas, please work with your dean, director, vice chancellor or provost to explore further.

— Erika Van Flein, director of benefits,  UA system Human Resources