STATE EMPLOYEES RETIREMENT COMMISSION		55 ELM STREET HARTFORD, CONNECTICUT 06106-1775 TELEPHONE: (860) 702-3480 TELEFAX:(860) 702-3489
MEDICAL EXAMINING BOARD for DISABILITY RETIREMENT
HEALTH CARE COST CONTAINMENT COMMITTEE
	STATE OF CONNECTICUT RETIREMENT AND BENEFIT SERVICES DIVISION OFFICE OF THE STATE COMPTROLLER

RETIREMENT & BENEFIT SERVICES DIVISION MEMORANDUM

May 16, 2003

TO THE HEADS OF ALL STATE AGENCIES

By memorandum dated March 7, 2003, the Retirement & Benefit Services Division (Division) discussed the 2003 Early Retirement Incentive Program (Program). Among the subjects of discussion were the eligibility rules; specifically, the Program provides three incentive years of credit to a State Employees Retirement System (SERS) member who:

1. is a full-time or part-time state employee on the work day immediately preceding his or her effective date of retirement; and
2. is at least fifty-two years of age on or before June 1, 2003 with a minimum ten years of actual state service credited in SERS prior to the effective date of retirement, exclusive of the incentive chips provided by the Program; or
3. has twenty or more years of retirement credit for qualifying hazardous duty service prior to the effective date of retirement, exclusive of the incentive chips provided by the Program, at any age; and
4. elects to retire on March 1, 2003, April 1, 2003, May 1, 2003, or June 1, 2003 provided that the member's written application is received by the Division on the last working day prior to the effective date of retirement; and
5. makes application for early, normal or hazardous duty benefits, whichever is applicable.

As June 1, 2003 approaches, it is important to stress that the deadline is Friday, May 30, 2003 at 4:30 P.M. for submission of June 1, 2003 retirement applications to the Division. For any eligible employee whose retirement is being deferred under the restricted circumstances described in Division memoranda dated March 14, 2003 and May 2, 2003, the Form CO-1101 or Form CO-1101A, whichever deferral form is applicable, must also be received by the Division no later than close of business on May 30, 2003.

Any SERS member whose retirement application with an effective date of June 1, 2003 is received by the Division after May 30, 2003 shall not be eligible for the three incentive years provided by the 2003 Program.

Very truly yours,

STATE EMPLOYEES RETIREMENT COMMISSION
NANCY WYMAN, SECRETARY EX OFFICIO

BY:

Steven Weinberger, Director
Retirement & Benefit Services Division

SW/SF/la 

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