Common Contracts
1 similar Memorandum of Agreement contracts
MEMORANDUM OF AGREEMENTMemorandum of Agreement • June 24th, 2024
Recognizing the popularity of the university's pnor two-year Faculty Retirement Incentive Program (FRIP), acknowledging that amendments to N.J.A.C. 17:7-8.11 and statutory requirements for the state of New Jersey ended two-year retirement programs, this MOA adds a new one-year FRIP option to the existing Faculty Transition to Retirement Program (FTTRP), and changes the timeline and terms of the current program. This agreement adds FRIP as a new incentive for faculty considering retirement, and sunsets the existing Faculty Transition to Retirement Program (FTTRP) option. As described below, FRlP (Option l) will eventually replace the FTTRP (Option 2) and become the permanent retirement incentive program for faculty.
