COVID-19 Early Retirement Program (CERP) for Staff

This revised and enhanced COVID-19 Early Retirement Program replaces the previously announced COVID-19 early retirement program for staff employees.

Communication

Eligibility Criteria

  • Applicant is a USNH status (benefits eligible) employee
  • Requested retirement date is June 30, 2021 or earlier
  • Minimum of 10 Years of status service (benefits eligible), by the requested and approved retirement date
  • Age of 59 1/2 by the approved retirement date
  • Applications must be submitted by October 15, 2020

Program Details

The applicant’s request for the voluntary program and proposed retirement date will be subject to approval by Senior Leadership.

2020 COVID-19 Enhanced Early Retirement Plan Summary – Staff

  • ALL APPROVED REQUESTS receive:
    • 75% of annual base salary paid out as a salary continuance over 20 pay periods (9 months) following the approved retirement date
    • Continued USNH medical coverage until the age of 65
      • Health insurance only.
      • If employee opts to waive medical coverage, they will receive an additional one-time payment of $15,000
    • COBRA will be offered for dental and vision benefits.
    • All other benefits including retirement, will continue until the last day of the month in which the employee retires.
       
    • If age 62 to 65:
      • Additional $500 per year of status service
    • If age 65 or older:
      • Additional $1,000 per year of status service

Application Process

Submit a completed CERP Staff Application and CERP 2020 Release and Waiver form to the Office of Human Resources at psu-humanresources@plymouth.edu by October 15, 2020.

*Note: Please download and save fillable forms prior to entering information.*

CERP Staff Application

CERP 2020 Release and Waiver Form