The Retirement Supplemental Voluntary Program (RSVP) is a voluntary retirement program offered to eligible Michigan Tech employees. The enrollment period for which an employee may sign their RSVP election is between July 1 and October 31 and is now open. Employees electing the Monetary Retirement Option must retire on or before June 30, 2018. The monetary retirement option provides a benefit equal to 50% of the eligible employee’s annual salary (9 month salary for faculty) at the time of their actual retirement date. The RSVP cap amount has been increased this year to $74,900 based on the percentage increase in the contribution and benefits base amount established by the Social Security’s Old-Age, Survivors, and Disability Insurance (OASDI) program.
Prior to electing RSVP, employees must meet with the Benefits Office for a confidential meeting to verify eligibility. RSVP program information may be found online.
RSVP questions may be directed to Benefit Services at 7-2517 or firstname.lastname@example.org.