Section 3.20
Date:  January 1983 (revised)

RETIREMENT

I.           
PURPOSE:

              
To establish a procedure at the University of Rhode Island to inform employees
of the two retirement
              
programs available.

II.         
POLICY:

              
RETIREMENT PROGRAMS:  There are two retirement programs for University
employees:

               
1.    As a condition of employment, non-classified employees
must participate, after two years of
                     
employment if over 30 years of age, in the RI Board of Governor for Higher
Education Defined 
                     
Contribution (403B) Retirement Plan.

               
2.    As a condition of employment, classified employees who work
20 or more hours each week, and
                     
work six (6) months or more, must participate, from the first day of employment,
in the state
                     
operated Employees’ Retirement System  of Rhode Island (ERSRI).

              
RETIREMENT:    

               
It is most important that employees who plan to
retire contact the Office of Human
              
Resource Administration, Benefits Section, at least three (3) months in advance,
to receive information
              
concerning necessary procedures to effect benefits payments.

              
NEW EMPLOYEES:   

              
The Retirement plans will be explained at your meeting with the Office of Human
Resource Administration,
             
Employee Benefits section.