The Retirement Supplemental Voluntary Program (RSVP) is a voluntary retirement program offered to eligible Michigan Tech employees. Eligible employees who wish to retire on or before June 30, 2015 must sign their RSVP election form and communicate their intent to the Benefits Office before the deadline of October 31, 2014. Prior to electing RSVP, employees must meet with the Benefits Office for a confidential meeting to verify eligibility.
Last Saturday, 16 teams competed against each other in the 3rd annual HuskyPAW Amazing Challenge hosted by Michigan Tech Benefit Services. Loosely based on the TV show, The Amazing Race, the teams began at the Lakeshore Center and competed in seven physical and mental challenges, racing to the finish at McLain State Park.
For one challenge a “Detour” was offered; the teams had to make a choice between one of two challenges. The choice was either physical, rowing a canoe across the canal to collect puzzle pieces that needed to be put together; or mental, testing their engineering skills and building a free standing tower at least 30” tall of spaghetti and marshmallows.
Teams are required to have a Michigan Tech employee present, but can be comprised of colleagues, friends, and/or family members. Here are the top three finishers:
- 1st Place: Black and Blue Crew led by Colleen Erva
- 2nd Place: The Charge led by Amy Mensch
- 3rd Place: Yooper Troopers led by Sandy Houle
Thank you to all of the volunteers how were instrumental in the planning and execution of this year’s event. Benefit Services would also like to extend a special thanks to Dave Nordstrom from the Student Development Complex, Brian Cadwell from Public Safety and Police Services, the Houghton County Sheriff’s office, the staff at McLain State Park, and Janet Hayden from Risk Management.
Team registration is now open for the HuskyPAW Amazing Challenge, which will be held on Saturday, August 2, 2014 at 9:00 a.m.
The Retirement Supplemental Voluntary Program (RSVP) is a voluntary retirement program offered to eligible Michigan Tech employees. While employees are not constrained to retire at any particular age, arrangements for retirement are a natural part of an employee’s personal and professional planning. This program provides information and, in some cases, incentives, that should make retirement planning easier.
The window period for which an employee may sign their RSVP election is between July 1 and October 31, 2014. Employees electing the monetary Retirement Option must retire on or before June 30, 2015. Prior to electing RSVP, employees must meet with the Benefits Office for a confidential meeting to verify eligibility. The RSVP policy can be found online at http://www.mtu.edu/hr/benefits/retirement/.
The RSVP cap on the monetary benefit is adjusted periodically based on the percentage increase in the contribution and benefit base amount established by the Social Security’s Old-Age, Survivors, and Disability Insurance (OASDI) program. The cap was increased on May 21, 2014 to $68,905.
Questions can be directed to Benefit Services at 487-2517 or firstname.lastname@example.org.
April was Financial Literacy month, and Benefits Services teamed up with TIAA-CREF to bring a financial challenge to Michigan Tech Employees called “What’s your Financial IQ?” Each day, five new questions were added to the challenge and each time played, employees were entered for a chance to win one of three iPads. Departments were able to view a leader board to compete against each other. Here are the results of the challenge:
The School of Technology had the most correct answers, followed closely by the School of Business and Economics.