Board Approves Enhanced Retirement Option

Campagne de souscription Capital Campaign de l'Urnversite Concordia Concordia University ~lIJ Concordia University, Montreal Vol. 9 No. 27 Apr. 25 1986 Board approves enhanced retirement option t its meeting of April The " Option for Change" allow for necessary be discussed with all eligible cut-off date for employability 23rd, Concordia's program is being offered to reorganization before the employees in a series of and people now have more A Board of Governors approximately 240 non University's busy fall and meetings to be held in the up flexibility to pursue interests approved an optional enhanc academic employees. The plan winter sessions. coming weeks (see accompa they may ·have put aside while ed retirement program that consists of a combination of a The enhanced retirement nying stories on page 2). raising their family. Since we will be available until June · 1ump sum payment -to all eligi option is part of the Universi "Although 'early retire have set the opt-in age at 50, it 20th, 1986 to all permanent ble employees plus enhanced ty's ongoing actfons to deal ment' is the accepted term in is obvious that the individuals fu ll- time, non-academic early pension for eligible staff with severely restricted budgets describing this sort of pro involved may still have several employees of the University members. Phase-out dates due to underfunding and com gram, I don't think that it ac productive years ahead of who will be 50 years old or have been set throughout the pressio ns. · " Concordia' s curately describes contem them. The package will pro more at May 31st, 1986. summer months in order to fi nancial situation is no porary reality," said Dr. vide them with the financial secret", said Dr. Jerome Jerome-Forget. "The whole means to explore comfortably Forget, Vice-Rector, Institu notion of retirement is chang other career alternatives," tional Relations and Finance, ing nowadays. The age of 65 is said the Vice-Rector: Giguere named new in announcing the Program. no longer considered a magical L.B. "The latest announcement of cuts to University operating Vice-Rector Services budgets by Quebec have com Jerome-Forget appointed pounded the problems we face Dean, Graduate Studies, in budgetary allocations in a · · Faculty of Engineering, Sir context of increasing deficit to CSST · George Williams University. and diminishing resources. We oncordia's Vice He has taught Electrical must make some difficult Rector, Institutional Engineering at Sir George and choices. However, in reaching C Relations and Concordia for 15 years. any decision involving Finance, Monique Jerome He h~s also been a member budgetary restrictions, there_ Forget, has been appointed as of . Senate, University Cur . the new President of the Com rjculum Coordinating Com mission de la Sante et de la mittee, Board of _ Graduate· (See stories on Securite au Travail (CSST), Studies · and Graduation replacing Mr. Justice Robert Ceremonies Committee on the page 2-) Sauve whose departure was Board of Governors. confirmed last week by Giguere's term as Director are two principles on which we Quebec Labour Minister r. Charles Giguere of of CRIM will be completed on refuse to compromise: We · Pierre Paradis. Concordia University May 31. As one of the must maintain the University's . The appointment is effective D. was appointed Vice- founders of CRIM, he helped academic standards and in May 1st, 1986 .. Rector, Services by the Board formulate its mission as a tegrity and we must provide Commenting on the an of Governors at its meeting on university-industry research fair and humane options for nouncement after Wednes- · Wednesday. Giguere will be complex in computing. CRIM University employees affected day's Board of Governors, CSST." taking over from Graham has been successful in forming( by the cutbacks. 'Option for Rector Patrick Kenniff said: Jerome-Forget thanked the Martin whose term expires on inter-unive r: siiy research Change' is in keeping with the " This is_the first time that a Rector for allowing her " full June L groups and in obtaining University's thinking in deal woman is appointed to this freedom in reaching a very dif Giguere is Associate Dean, significant federal and provin ing with this second · princi challenging position. We are ficult decision. Leaving Con Academic Programs in Con cial financing of research, ple", the Vice-Rector added. very honored that one of Con cordia makes this a particular cordia's Faculty of Engineer equipment and infrastruc The University has been cordia's senior administrators ly hard choice, since I have ing and Computer Science as tures. The Quebec govermµent considering implementation of should receive such outstan become very committed to this well as Director of CRIM, the has given CRIM $1.93 million an enhanced retirement pro ding recognition. At the same institution. That commitment Centre de Recherche Infor over a five year period, and gram since the budgetary pro time, we can only regret that will stay with me, however, matique de Montreal, a joint eight Canadian corporations cess was instituted at Concor the CSST' s gain should be and I intend to be a strong ad computer re!!earch group. have become members of the dia in 1985. The Board of Concordia's loss." vocate of fair treatment for He has been associated with centre. Concordia University Governors has been kept. in Kenniff further commented this U Diversity," she further Concordia and one of its foun is·among the Montreal univer formed of this possibility and on Jerome-Forget's significant stated. ding institutions, Sir George sities which are its founding careful consideration was contributions in initiatin-g ma Jerome-Forget has agreed to Williams University, since members. given to similar plans in other jor policy decisions over the remain involved in ongoing 1969. Among the positions he Giguere's career before institutions before Dr. past IO months, singling out work on such items as the has held have been Chairman coming to Sir George involved . Jerome-Forget submitted the the implementation of the budget in the weeks following of the Electrical Engineering teaching at the Nova Scotia " Option for Change" pro budgetary process as a "great her departure. A search com Department; Assistant Dean, Technical College and being a gram to the Board. performance in a difficult mittee will be_ struck in mid Academic Programmes, Flying Officer in the Royal Considered generous by financial context - and pro May to find her replacement. Faculty of Engineering Canadian Air Fore«:. general industry standards, the bably great training for what The new appointment is an- ~ ment; Assistant · · · B.V. program is voluntary and wi~ . ·awaits J_er~me-~orget at the (See page .6J - Page 2 THE THURSDAY REPORT Apr. 25, 1986 Comments made on program of enhanced retirement usan O'Reilly, Con 50 and 54 inclusive are entitled compromised by attendance at cordia's Director of to a lump sum. - the information session, which S Human Resources, O'Reilly says _ that the i& a very important feature in says the Enhanced Retirement benefits of the plar depend on making an informed deci Option will give permanent, the individual employee's age sion," she says. full-time, non-academic and years of service. A per Assoc. -Prof. Larry Boyle - Option for change employees of 50 years of age sonalized statement listing Finance, who has given finan and more "a unique oppor specific benefits is being cial seminars for Human Q. Is the plan for me? tunity for career reorientation prepared for every eligible Resources in the past, and who A. It may be, if you are a permanent full-time, non without financial hardship". staff member and will be made provides individual counsell academic staff member of Concordia University and are Although Concordia available during a series of in ing to staff members, says that 50 years old or more at May 31st, 1986. employees are already entitled formation sessions to be held he will be present at some of Q. How much will,I receive if I decide to accept the option? to early retirement between the by Human Resources. the sessions and will be A. ·Each employee will be offered a personalized package. ages of 55 and 64, their pen The sessions begin May I available for individual Each package will include a lump sum payment that will sion is reduced for earlier pay and will provide complete counselling, as usual. He views vary according to age and number of years as a full-time ment. "This penalty will be details on the program. Eligi the plan as being beneficial for employee. absorbed by the University for ble employees will be invited those who have built up In addition, employees eligible to draw early pension will eligible employees who will to a specific session, each hav significant assets during their be able to so without penalty. take advantage of the Option. ing been organized to bring working life and wish to retire For example, if you are between 55 and 57 on May 31st, These employees will be entitl together employees with com or enter another endeavour. 1986, the, lump sum will range between the salary ed to their pension, and will mon interests, O'Reilly says. _ "Each case has to be examined equivalent of 30 to 60 weeks of salary plus early also receive a lump sum pay O'Reilly , stresses that the on its 'own merit," he says. · pension without penalty. If you are 61 at the same date, ment," she explains. Eligible Enhanced Retirement Option Bill Raso, outgoing Presi the lump sum will vary between 26 and 46 weeks of salary employees between the ages of is voluntary: "No one will be dent of Concordia Universi along with your early pension without penalty.

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