Western’s Human Resource leadership team has made a decision to recommend to the University Board of Governors that the Western Retirement Income Fund (“RIF Program”) be discontinued.
The team is preparing to post a Request for Proposal to identify and select an external preferred provider to be the successor to its RIF Program (“Successor Provider”). The team’s primary goal is to select a provider that best meets the needs of existing retirees and provides a preferred option for future retirees.
If the recommendation to discontinue the RIF Program is approved, existing and future retirees will no longer have a Western provided RIF option. They will have an option to select the Successor Provider or a provider of their choice.
The effective date for the proposed change is unknown at this time, however current RIF Program members may need to transfer their accounts by the end of 2014.
The rationale for the proposed change:
If you have any questions regarding this proposed change please direct them to firstname.lastname@example.org or contact Human Resources at 519-661-2194.