Oct. 8, 2009
Council considering retirement recommendation
by Erin Rosacker
Although the Professional and Scientific Council's Oct. 6 meeting fell a day in advance of the state's revenue estimating conference, the compensation and benefits committee presented a motion based on an anticipated budget shortfall. The revenue estimating conference meets again in December. The figure the group announces then will be used to develop the state's budget for fiscal year 2011.
The motion recommends implementation of another retirement incentive option (RIO) program for the 2010 calendar year to help ISU meet a predicted mid-year budget reversion and additional cuts to the FY11 budget. The motion states that "retirement losses are preferred to layoffs" and that the RIO window should set the retirement date for no later than Jan. 31, 2011.
There were 210 RIO applications approved for the initial program. Those retirements must happen by Jan. 31, 2010.
Council members will vote on the motion at their Nov. 11 meeting.
