The latest work-life information at IU
           
   


No. 30
January 2004


University Human Resource Services
www.indiana.edu/~uhrs

Inside this Issue:

PERF Early Retirement Incentive

Tobacco Use and Health

Insurance Premium Reductions

Tax Saver Benefit (TSB) Plan Over-the-Counter Medicine Reimbursement

UHRS Web site

2004 Holidays for Appointed Staff

Centers for Disease Control Advises: Know When Antibiotics Work

Women’s Health and Cancer Rights Act (WHCRA)

Recording Paid Time Off (PTO) for Exempt Staff Employees

Beware of Financial Advisors

Benefits During a Leave of Absence

2004 Open Enrollment Results

Investment Fund Performance

Employee Assistance Program

 

The Informed Employee is published 2-3 times a year by University Human Resource Services for approximately 16,000 full-time appointed staff and academic employees across the eight Indiana University campuses.

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PERF Early Retirement Incentive

Indiana University is pleased to announce the establishment of an early retirement incentive for certain employees covered by the PERF retirement plan. Eligible employees received an information letter in early December. This
incentive program is an opportunity for eligible employees to retire earlier than they would have otherwise considered.
Essentially, eligible IU employees will receive one additional year of PERF service credit for every five years of PERF-covered service while employed by IU–an opportunity that can represent a 20 percent or more increase in PERF Pension benefits payable for the participant’s life.

This early retirement incentive is a result of a recent amendment in the state of Indiana statutes. It is offered as a one-time “window” opportunity for qualified employees to retire early with additional pension benefits. There is no intention that this retirement incentive program will be offered again. The election of this early retirement incentive is strictly a voluntary option for employees.

To be eligible for this early retirement incentive, all of the following criteria must be satisfied:

  • Be an active IU employee on January 1, 2004, covered by the PERF retirement plan, and
  • Be at least age 55 on the date of retirement from IU, and
  • Have completed at least 15 years of PERF-covered service as an IU employee as of the date of retirement from IU, and
  • Elect to retire and separate between January 1, 2004, and June 30, 2004, and
  • Complete the associated enrollment forms no later than March 31, 2004.

Indiana University is very pleased that it can provide this meaningful early retirement incentive. Please see www.indiana.edu/~uhrs/benefits for additional information.

Tobacco Use and Health

The Indianapolis Star recently reported that:

  • More than 1.2 million Hoosier adults smoke cigarettes.
  • Each year, about 20,000 Hoosier youths become new daily smokers.
  • Each year, about 10,300 Hoosiers die from a tobacco-related illness.

Numerous studies and articles indicate that smoking is the leading cause of preventable disease and death. Research studies have proven that smoking:

  • Causes chronic lung disease
  • Causes cancer of the lungs, larynx and esophagus
  • Is the leading contributor to complications for heart disease, stroke, and diabetes

Smoking adversely affects not only the smoker, but also persons around them. Secondhand smoke is also linked to increased heart disease.

Smoking results in preventable illnesses and deaths; therefore, smoking results in preventable health care costs.

Next Article: Insurance Premium Reductions

 


UNIVERSITY HUMAN RESOURCE SERVICES

Last updated: 23 January 2004
URL: http://www.indiana.edu/~uhrs/
Comments concerning the web site: uhrs@indiana.edu
Copyright 2002, The Trustees of Indiana University