<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:x="urn:schemas-microsoft-com:office:excel" xmlns:p="urn:schemas-microsoft-com:office:powerpoint" xmlns:a="urn:schemas-microsoft-com:office:access" xmlns:dt="uuid:C2F41010-65B3-11d1-A29F-00AA00C14882" xmlns:s="uuid:BDC6E3F0-6DA3-11d1-A2A3-00AA00C14882" xmlns:rs="urn:schemas-microsoft-com:rowset" xmlns:z="#RowsetSchema" xmlns:b="urn:schemas-microsoft-com:office:publisher" xmlns:ss="urn:schemas-microsoft-com:office:spreadsheet" xmlns:c="urn:schemas-microsoft-com:office:component:spreadsheet" xmlns:odc="urn:schemas-microsoft-com:office:odc" xmlns:oa="urn:schemas-microsoft-com:office:activation" xmlns:html="http://www.w3.org/TR/REC-html40" xmlns:q="http://schemas.xmlsoap.org/soap/envelope/" xmlns:rtc="http://microsoft.com/officenet/conferencing" xmlns:D="DAV:" xmlns:Repl="http://schemas.microsoft.com/repl/" xmlns:mt="http://schemas.microsoft.com/sharepoint/soap/meetings/" xmlns:x2="http://schemas.microsoft.com/office/excel/2003/xml" xmlns:ppda="http://www.passport.com/NameSpace.xsd" xmlns:ois="http://schemas.microsoft.com/sharepoint/soap/ois/" xmlns:dir="http://schemas.microsoft.com/sharepoint/soap/directory/" xmlns:ds="http://www.w3.org/2000/09/xmldsig#" xmlns:dsp="http://schemas.microsoft.com/sharepoint/dsp" xmlns:udc="http://schemas.microsoft.com/data/udc" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:sub="http://schemas.microsoft.com/sharepoint/soap/2002/1/alerts/" xmlns:ec="http://www.w3.org/2001/04/xmlenc#" xmlns:sp="http://schemas.microsoft.com/sharepoint/" xmlns:sps="http://schemas.microsoft.com/sharepoint/soap/" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:udcs="http://schemas.microsoft.com/data/udc/soap" xmlns:udcxf="http://schemas.microsoft.com/data/udc/xmlfile" xmlns:udcp2p="http://schemas.microsoft.com/data/udc/parttopart" xmlns:wf="http://schemas.microsoft.com/sharepoint/soap/workflow/" xmlns:dsss="http://schemas.microsoft.com/office/2006/digsig-setup" xmlns:dssi="http://schemas.microsoft.com/office/2006/digsig" xmlns:mdssi="http://schemas.openxmlformats.org/package/2006/digital-signature" xmlns:mver="http://schemas.openxmlformats.org/markup-compatibility/2006" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns:mrels="http://schemas.openxmlformats.org/package/2006/relationships" xmlns:spwp="http://microsoft.com/sharepoint/webpartpages" xmlns:ex12t="http://schemas.microsoft.com/exchange/services/2006/types" xmlns:ex12m="http://schemas.microsoft.com/exchange/services/2006/messages" xmlns:pptsl="http://schemas.microsoft.com/sharepoint/soap/SlideLibrary/" xmlns:spsl="http://microsoft.com/webservices/SharePointPortalServer/PublishedLinksService" xmlns:Z="urn:schemas-microsoft-com:" xmlns:st="" xmlns="http://www.w3.org/TR/REC-html40">
<head>
<meta http-equiv=Content-Type content="text/html; charset=us-ascii">
<meta name=Generator content="Microsoft Word 12 (filtered medium)">
<style>
<!--
/* Font Definitions */
@font-face
{font-family:"Cambria Math";
panose-1:2 4 5 3 5 4 6 3 2 4;}
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
@font-face
{font-family:Tahoma;
panose-1:2 11 6 4 3 5 4 4 2 4;}
@font-face
{font-family:Webdings;
panose-1:5 3 1 2 1 5 9 6 7 3;}
@font-face
{font-family:"Baskerville Old Face";
panose-1:2 2 6 2 8 5 5 2 3 3;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
margin-bottom:.0001pt;
font-size:11.0pt;
font-family:"Calibri","sans-serif";}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:blue;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{mso-style-priority:99;
color:purple;
text-decoration:underline;}
span.EmailStyle17
{mso-style-type:personal;
font-family:"Calibri","sans-serif";
color:windowtext;}
span.EmailStyle18
{mso-style-type:personal-reply;
font-family:"Calibri","sans-serif";
color:#1F497D;}
.MsoChpDefault
{mso-style-type:export-only;
font-size:10.0pt;}
@page Section1
{size:8.5in 11.0in;
margin:1.0in 1.0in 1.0in 1.0in;}
div.Section1
{page:Section1;}
-->
</style>
<!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]-->
</head>
<body lang=EN-US link=blue vlink=purple>
<div class=Section1>
<p class=MsoNormal><span style='color:#1F497D'>OSU has not offered a buyout or
early retirement plan, but Ag Extension did. I have attached a copy
and below is the Board item.<o:p></o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'>k<o:p></o:p></span></p>
<p class=MsoNormal style='margin-left:.5in;text-align:justify;text-indent:-.5in'><b><span
style='font-size:12.0pt;font-family:"Times New Roman","serif"'>H-1
<u>Approval to Implement a Retirement/Separation Incentive Program for DASNR</u>
<u>Extension and Research Employees</u> (OSU-STW)<o:p></o:p></span></b></p>
<p class=MsoNormal style='margin-left:.5in;text-align:justify;text-indent:-.5in'><b><span
style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></b></p>
<p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt;
font-family:"Times New Roman","serif"'>Board approval is requested to authorize
the Division of Agricultural Sciences and Natural Resources (DASNR) to
implement a voluntary retirement/separation incentive program of DASNR
Extension and Research employees.<o:p></o:p></span></p>
<p class=MsoNormal style='text-align:justify;text-indent:-.5in'><span
style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p>
<p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>Eligibility
includes any DASNR employee, retiring October 1, 2009 through June 30, 2010,
whose appointment is 50% or more, on an annualized basis (based on FY09
funding), with state appropriated and/or federal [Hatch, McIntire-Stennis, or
Smith Lever 3 (b) & (c)] funds, through the Oklahoma Agricultural
Experiment Station, the Oklahoma Cooperative Extension Service, or a
combination of the two.<o:p></o:p></span></p>
<p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p>
<p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>The
DASNR employee must also have at least eight (8) years of continuous OSU
service (dating from retirement/separation date) and meet the age and service
requirements for the Teachers’ Retirement System of Oklahoma (reduced or
regular or retirement benefits), optional federal retirement or social security
retirement (reduced or full retirement benefits). <o:p></o:p></span></p>
<p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p>
<p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'>Retiring
or separating employees will have the option to select either 1) a lump sum
retirement incentive payment equal to 55% of their final annual gross salary,
but not greater than $60,000, or 2) annual retirement incentive payments paid
in installments over the next two years, not to exceed $70,000.<o:p></o:p></span></p>
<p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p>
<p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt;
font-family:"Times New Roman","serif"'>There are approximately 250 employees
eligible for this program. It is anticipated that 75 to 100 employees may
exercise this option to retire or separate from employment. Assuming that
75 employees accept the incentive to retire, the result would be a total
estimated salary savings of $4.5 – 5.0 million for the two agencies.<o:p></o:p></span></p>
<p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt;
font-family:"Times New Roman","serif"'><o:p> </o:p></span></p>
<p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt;
font-family:"Times New Roman","serif"'>The detailed documents supporting the
plan are subject to OSU Legal Counsel review and approval.<o:p></o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p>
<div>
<p class=MsoNormal><i><span style='color:#FF9900'>Kathy Kamm Elliott,
MBA, CPA, CFE<o:p></o:p></span></i></p>
<p class=MsoNormal><span style='color:#1F497D'>Associate Vice President and
Controller<o:p></o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'>Oklahoma State University<o:p></o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'>207 Whitehurst Hall<o:p></o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'>Stillwater, OK
74078-1041<o:p></o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'>405.744.4188<o:p></o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'>405.744.6404 (Fax)<o:p></o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'><a
href="mailto:kathy.elliott@okstate.edu">kathy.elliott@okstate.edu</a><o:p></o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'> <o:p></o:p></span></p>
<p class=MsoNormal><b><i><span style='font-size:10.0pt;color:#1F497D'>The test
of our progress is not whether we add more to the abundance of those who have
much; it is whether we provide enough for those who have too little.</span></i></b><span
style='color:#1F497D'><o:p></o:p></span></p>
<p class=MsoNormal><i><span style='font-size:7.5pt;color:#1F497D'>Franklin
Roosevelt</span></i><span style='color:#1F497D'><o:p></o:p></span></p>
<p class=MsoNormal><span style='color:#1F497D'> <o:p></o:p></span></p>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span
style='font-size:18.0pt;font-family:Webdings;color:green'>P</span><span
style='font-family:"Arial","sans-serif";color:blue'> </span><b><span
style='font-size:7.5pt;font-family:"Arial","sans-serif";color:green'>Think
Green--Please don't print this e-mail unless you really need to.</span></b><b><span
style='color:blue'><o:p></o:p></span></b></p>
<p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p>
<p class=MsoNormal><span style='font-size:7.5pt;font-family:"Arial","sans-serif";
color:#1F497D'>This communication and any accompanying document(s) are or may
be confidential. They are intended for the sole use of the addressee. If you
receive this transmission in error, you are advised that any copying,
distribution, or taking of any action in reliance upon the communication is
strictly prohibited. If you received this communication in error, please
delete the original message from your system and immediately contact me at
the above telephone number or email address. Thank you. </span><span
style='color:#1F497D'><o:p></o:p></span></p>
</div>
<p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p>
<div>
<div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'>
<p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span
style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>
cobo-bounces@lists.onenet.net [mailto:cobo-bounces@lists.onenet.net] <b>On
Behalf Of </b>Mike Coponiti<br>
<b>Sent:</b> Wednesday, February 24, 2010 8:08 AM<br>
<b>To:</b> COBO@onenet.net<br>
<b>Subject:</b> [Cobo] Buyout program<o:p></o:p></span></p>
</div>
</div>
<p class=MsoNormal><o:p> </o:p></p>
<p class=MsoNormal>To All:<o:p></o:p></p>
<p class=MsoNormal><o:p> </o:p></p>
<p class=MsoNormal>If your institution has offered a “buyout”
program or “early” retirement plan , I would be interested in how
it was structured and implemented.<o:p></o:p></p>
<p class=MsoNormal><o:p> </o:p></p>
<p class=MsoNormal>Any assistance would be appreciated.<o:p></o:p></p>
<p class=MsoNormal><o:p> </o:p></p>
<p class=MsoNormal>Thanks,<o:p></o:p></p>
<p class=MsoNormal><o:p> </o:p></p>
<p class=MsoNormal><span style='font-family:"Baskerville Old Face","serif"'>Mike
Coponiti<o:p></o:p></span></p>
<p class=MsoNormal><span style='font-family:"Baskerville Old Face","serif"'>Vice
President of Business and Finance<o:p></o:p></span></p>
<p class=MsoNormal><span style='font-family:"Baskerville Old Face","serif"'>1727
West Alabama Ave<o:p></o:p></span></p>
<p class=MsoNormal><span style='font-family:"Baskerville Old Face","serif"'>Chickasha,
OK 73018<o:p></o:p></span></p>
<p class=MsoNormal><span style='font-family:"Baskerville Old Face","serif"'>405.574.1333<o:p></o:p></span></p>
<p class=MsoNormal><span style='font-family:"Baskerville Old Face","serif"'>405.574.1397
(fax)<o:p></o:p></span></p>
<p class=MsoNormal><o:p> </o:p></p>
</div>
</body>
</html>