Eligibility
Staff members are eligible only if they meet all of the following criteria:
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Must be: a regular full or part-time salaried staff member of the University who is paid on the University's regular payroll and is classified by the University as "benefits eligible" in accordance with its applicable policies and procedures
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Must not be: an employee of the Centennial School; an administrative staff member who holds a tenured faculty appointment; a Research Scientist, Scholar or Engineer classified as Research Personnel in long term appointments; or Research Associate classified as Research Personnel in short term appointments
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Must have been credited with: at least ten "years of service," as calculated by Human Resources, on June 30, 2019
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Must have attained: a combination of years of age and years of service that equals at least seventy-five years on June 30, 2019.
Benefits During the Six Months Following Retirement
- Six months of severance pay, based on the employee's salary at the time of separation
- Six months continued access to Lehigh medical insurance coverage at employee premium rates if participating prior to retirement (available during the six month severance period)
- Tuition Benefits during the six month severance period
- Life Insurance Benefits during the six month severance period
- The base university contribution to the employee's Lehigh Retirement Plan account will continue through the six month severance period
- The employee may continue making payments into health care or dependent care Flexible Spending Accounts and/or Health Savings Accounts. These payments will be drawn from their severance pay. Available only if participating prior to retirement.
- Continued eligibility for Employee Assistance Plan benefits
For more information on Benefits after the six month severance period, see Decision-Making Factors.
Timeline and Deadline of Offer
- Eligible employees have from April 11 to June 14, 2019 to consider whether or not they want to accept the offer.
- Employees who received the plan offer are advised to consult with their attorney and financial and/or tax advisor about participating in the plan.
- If an employee decides to participate in the plan, they must sign and return the Participation Election Form to Human Resources.
- Once an employee submits the signed Participant Election Form, they have a seven-day revocation period in which they may change their mind and cancel their participation.
- After the seven-day revocation period has passed, the employee's participation in the plan becomes effective and irrevocable.
- The deadline to submit the Participant Election Form in order to participate in the plan is June 14, 2019.
- The General Release of Claims must be signed and submitted to Human Resources on the employee's last official workday.