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</o:shapelayout></xml><![endif]--></head><body bgcolor=white lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal><span style='font-size:11.0pt;color:#1F497D'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> All Appointed Personnel [mailto:ALL-EMPLOYEES-APPOINT@LISTSERV.ARIZONA.EDU] <b>On Behalf Of </b>Meredith Hay and Allison Vaillancourt<br><b>Sent:</b> Tuesday, January 25, 2011 2:51 PM<br><b>To:</b> ALL-EMPLOYEES-APPOINT@LISTSERV.ARIZONA.EDU<br><b>Subject:</b> Incentive Program for Voluntary Retirement<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><div><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>To: University of Arizona Faculty and Appointed Professionals<br>From: Meredith Hay, Executive Vice President and Provost<br> Allison Vaillancourt, Vice President, Human Resources<br>Date: January 25, 2011<br>Subject: Incentive Program for Voluntary Retirement </span><o:p></o:p></p></div><div><p class=MsoNormal> <o:p></o:p></p></div><div><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>During the last several months, we have explored options for meeting our current and future budget challenges. One strategy that holds promise is an incentive program for tenured faculty and continuing professionals who choose to retire voluntarily. After significant consideration, we have decided to offer such an Incentive Program for Voluntary Retirement (IPVR) this semester. </span><o:p></o:p></p></div><div><p class=MsoNormal> <o:p></o:p></p></div><div><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>This voluntary, one-time opportunity will be offered beginning January 28, 2011, and end on March 18, 2011. The retirement incentive payment will be equivalent to one year’s annualized salary, pro-rated by FTE. Retirements will occur after the end of the current academic year (May 22, 2011) and fiscal year (June 30, 2011); individuals who have accepted appointments for pre-summer session, and summer sessions 1 and 2 will retire immediately after the specific summer session contract. </span><o:p></o:p></p></div><div><p class=MsoNormal> <o:p></o:p></p></div><div><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Those eligible to apply for the IPVR must meet the following requirements prior to May 23, 2011:</span><o:p></o:p></p></div><div><p class=MsoNormal> <o:p></o:p></p></div><div><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>1. Faculty with tenure OR Professionals with continuing status, including those with administrative appointments, AND<br>2. current appointments are for no less than .50 FTE, AND <br>3. completion of at least 10 years of service to UA, AND <br>4. attainment of age 65, AND<br>5. have not submitted written intent to retire, AND<br>6. have not entered into a Phased Retirement Agreement under the Optional Retirement Program. </span><o:p></o:p></p></div><div><p class=MsoNormal> <o:p></o:p></p></div><div><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Personalized letters are being sent to these individuals’ home addresses this week. More information, including the IPVR policy, instructions for applying, and a schedule of information sessions, is available on the Human Resources website at <a href="http://www.hr.arizona.edu/benefits/ipvr">http://www.hr.arizona.edu/benefits/ipvr</a>.</span><o:p></o:p></p></div></div></body></html>