On Sept. 6 & 7, Russ Stanton of the Inter Faculty Organization will be putting on workshops at Moorhead State University for both new faculty and faculty members who are contemplating retirement within the next five years. In addition, he will meet for 1/2 hour with individual faculty members to discuss their particular retirement concerns.

The workshops for faculty nearing retirement will cover contractual and statutory provisions relating to retirement including:

  • The final year two-step increase
  • The early separation incentive
  • Severance pay
  • Retiree health care and the postretirement tax-free healthcaresavings plan.
  • The career steps
  • TRA: Annuitization options, acceleration options, post-retirement cost
  • of living adjustments
  • Phased retirement and the Annuitant Employment Program
  • Tax sheltering options, including the new Roth TSA
  • Healthcare Reimbursement Arrangements (HRA’s) and how they relate to retirement

In addition, Russ will provide updated information on the overhaul of the TRA program and the effects of the federal health care reform legislation on faculty nearing retirement.

At the workshop Russ will distribute retirement preparation checklists, information on notification dates, form letters for giving retirement notification and applying for benefits, and a list phone numbers, addresses, and Internet locations of retirement planning resources.

The retirement workshops are free of charge. IFO does not sell or endorse any products, or receive any fees or commissions related to any product. The purpose of these workshops is to help members maximize their retirement benefits.

The following is a list of dates that Russ Stanton will be on campus:

Tuesday, September 6, 2011: General workshop for faculty members nearing retirement from 8 to 9 a. m. in CMU 203. Individual ½-hour appointments will be at room CMU 208 from 9 a. m. to 1 p. m. and again from 2:30 to 5:30 p. m.

Wednesday, September 7, 2011: Individual ½-hour appointments from 8 a. m. to 1 p. m. in CMU 204. General workshop for faculty nearing retirement from 1:30 to 2:30 p. m. in CMU 203.

E-mail the faculty association office, faoffice@mnstate.edu, if you wish to schedule an individual ½-hour appointment with Russ Stanton. The general workshops do not require an appointment.