October 3, 2005

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Trustees extend alternative retirement plan to classified staff

 Many BGSU classified staff members may now choose an alternative retirement plan.

The board of trustees on Sept. 30 expanded the option to classified staff to comply with a recent change in Ohio law that extended eligibility for participation in such a plan to all full-time employees of public colleges and universities.

Full-time faculty and administrative staff gained the alternative retirement plan option in January 1999, but classified staff members weren’t eligible under the law at that time.

Thomas Trimboli, general counsel, said the option will be available to newly hired classified staff and to those with less than five years’ service at the University as of last Aug. 1. The amendment to BGSU’s plan allows participants to divide their retirement account among multiple providers, he added.

Lorrie Sawaie, Student Academic Achievement and vice chair of Classified Staff Council, welcomed the board’s action and said “it brings some equity across the playing field.”

On another matter, the trustees endorsed the establishment of a non-profit research institute to promote commercialization of faculty-developed innovations.



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