On the agenda at the next McHenry County College Board meeting is approval of an early retirement incentive program that was ended in 2008.
Here are some of the incentives being recommended for faculty who indicate they want to retire June 1, 2018, and give notice by January 31, 2018,
According to the report, additional benefits include:
Faculty Emeritus status, plus the following privileges:
- The participant will qualify for tuition waiver for credit and non-credit classes. The spouse and
dependent children (up to age 26) of the participant will qualify for tuition reimbursement for credit classes that are successfully completed. (Successful completion is defined as a grade of C or above.)
- Upon request, the participant will receive MCC business cards indicating their Emeritus status.
- The participant will be invited to College functions and will be kept on the College mailing list.
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A Board member tells me the administration was directed to make sure a retirement payout isn’t included in the pension calculation.