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Questions & Answers

General

1. What are the goals of the ERIP?

The goals of the ERIP are to provide opportunities for units to reduce salary/wage and benefit costs, to redirect positions to focus on higher priorities, and to avoid or minimize future involuntary reductions in personnel.

2. If I apply for the ERIP, am I guaranteed approval?

The ERIP is a voluntary separation program that requires University approvals. Not all applications are expected to be approved. See Review and Approval Process for more information.

3. What are the ERIP incentive benefits?

ERIP participants will receive:

  • A one-time Income Replacement payment:
    • Tenured Faculty, Clinical Faculty, and Librarians will receive 10 months of the employee’s base salary in effect on June 30, 2011.
    • All other Academic employees and all Staff employees will receive 6 months of the employee’s base salary or wages in effect on June 30, 2011.
  • All ERIP participants who are enrolled as the employee in an IU sponsored medical plan on June 30, 2011, will be provided with a Health Reimbursement Account (HRA).
  • ERIP participants may continue in an IU-sponsored medical plan until Medicare age (65); and, if have IU Retiree Status, may continue in a Medicare Supplemental medical plan upon reaching age 65.
  • IU Retiree Status benefits for those who meet age and IU service requirements.
  • Pay for unused paid time off in accordance with normal IU policies for Staff employees only.

 

 
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