Voluntary Early Retirement Incentive
Voluntary Early Retirement Incentive Program
Arkansas Tech University Board of Trustees approved a Voluntary Employee Retirement Incentive (VERI) on August 20, 2020. Information regarding this incentive program is as explained below.
To be eligible to participate in the VERI, the faculty or staff member must meet the following criteria as of December 31, 2020:
- Age sixty (60) or older and
- Have ten (10) years of continuous, full-time employment at ATU.
Effective Retirement Date
Participants may choose the effective retirement date to be either December 31, 2020, or May 31, 2021.
Requesting to Participate
To participate, you will complete the enclosed Voluntary Employee Retirement Agreement and Voluntary Employee Retirement Waiver. You have 45 days to consider whether you want to participate in the VERI. This election period runs from August 20, 2020 to October 23, 2020. The Agreement and the Waiver must be returned to the Office of Human Resources no later than 4:30 p.m. on October 23, 2020 should you choose to participate.
What if I change my mind about participating?
You may revoke your signature on the Agreement and Waiver within seven (7) calendar days after you receive approval from the University by delivering your written revocation to the Office of Human Resources at Arkansas Tech Human Resources, 105 W O Street Suite 434, Russellville, AR 72801. You must deliver the revocation letter to the Office of Human Resources no later than 4:30 p.m. on the seventh day.
When is the Election Approved and Enforceable?
The Agreement does not become effective until:
- The Office of Human Resources has reviewed the Agreement to ensure eligibility
- The President as the delegate of the Board of Trustees has signed it,
- The Office of Human Resources has emailed you notification of the approval, and
- The seven (7) day revocation period has expired without revocation.
INFORMATIONAL Resources and Forms