The Board of Regents approved the Retirement Incentive Option (RIO) at its meeting on February 11. RIO is an opportunity for voluntary retirement for eligible employees. Retirement Incentive Option (RIO) will provide a lump-sum contribution to the State of Minnesota Health Care Savings Plan (HCSP), following the last day of employment. The amount of the contribution will be roughly equivalent to 24 months (52 pay periods) of University subsidy, depending upon the employee's UPlan coverage level, permanent residence, and work location as of the last day of employment.
Eligible employees may enroll in the program beginning February 15 through May 15, 2011. Three informational RIO seminars will be held on the Twin Cities campus on February 21 and 22. The sessions will also be broadcast through UMConnect for those who are unable to attend in person. Visit the University Human Resources events website for session details. Additional information about RIO is available on the HCSP website and on the University Human Resources website.
If you have questions, contact the Employee Benefits Service Center at (612)624-9090 or (800)756-2363, option 2 or send an email to email@example.com.
Human Resources Director