University Creates Voluntary Early Retirement Program for Represented Employees

A voluntary early retirement program has been created for represented (union-eligible) employees. Similar to the faculty retirement incentive program (FRIP) and the staff early retirement program (SERP), the represented employee voluntary early retirement program (REVERP) provides eligible represented employees the option of retiring from the University and receiving a one-time financial incentive along with immediate ability to access Pitt’s standard retirement benefits package, which includes health care and education benefits for spouse/domestic partner and dependents.

Eligibility for the REVERP is limited to represented employees who have served a minimum of 10 consecutive years of full-time service at the University and who have reached age 59 by Sept. 1, 2020. The Office of Human Resources is currently finalizing an eligibility list and other program details.

Beginning in December, eligible represented employees will be notified with details of the program via email. Those who are eligible will receive detailed information, including a general timeline, key dates, information on how to participate, and more details about the incentive and benefit details. The targeted retirement date for participants of the REVERP is May 1, 2021.

The REVERP, in addition to the FRIP and the SERP, is part of Pitt’s strategy to continue to give employees maximum flexibility in unprecedented times. They also are part of prudent budget planning in light of the significant costs related to the University of Pittsburgh’s response to the COVID-19 pandemic.