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.