January 12, 2017
Posed to: Radha Pyati, President/Designee, UNF Faculty Association
Faculty who have sought to un-do entry into the Drop [Deferred Retirement Option Program] program have found this impossible. If President Delaney or, for instance, Dean Chally, were try to un-do their entry into the Drop program, would the university have any financial responsibility or provide any financial reimbursement of any kind?
Here is the response to the question from the last FA meeting concerning drop:
Per the Division of Retirement, if an employer agrees to rescind a previously established DROP termination date, the employee’s membership in the State Retirement System would be reestablished, as if he/she had not participated in DROP. As such, there would be no payout of funds to the employee from the retirement system or the employer (UNF). There is no university financial responsibility to pay the employee anything, and no requirement to reimburse the employee anything for not receiving DROP money.
Greg Catron, Director
Employee & Labor Relations
University of North Florida