Furlough Days Waived for U of I Employees About to Retire
University of Illinois employees planning to retire this academic year don't have to worry about unpaid furlough days affecting their retirement benefits --- if they act in the next few days.
The university says that employees who sign a retirement agreement by Tuesday, February 2nd, don't have to take furlough days --- or a voluntary pay reduction.
U of I spokesperson Robin Kaler says the furlough waivers are being offered to employees considering retirement, who may be concerned by how furlough days will affect their final year's salary --- and consequently their pension levels.
"We did not want that furlough program to doubly hit people, just because of that window within which they those to retire", says Kaler.
The furlough waiver offer is for employees on all three U of I campuses who plan to retire by the start of the next fall semester. Employees on the Urbana campus may still be eligible for cash benefits to be offered in a voluntary separation and retirement program to be unveiled next week.