MN HF872

Extends the early retirement incentive program for Minnesota State Colleges and Universities employees by removing the June 30, 2014 sunset date, making it permanent.

Allows the Board of Trustees to offer employees age 55 or older with at least five years of employment either cash incentives up to one year of base salary or employer contributions to a postretirement healthcare savings plan.

Requires the Board of Trustees to file proposed eligibility requirements with relevant legislative committees at least 30 days before adoption, post requirements on the system website, and hold a public hearing.

Allows college/university presidents and the chancellor to designate specific departments, programs, or positions eligible for the incentive program within the framework established by the Board.

Requires annual reporting to the Board of Trustees and Legislative Reference Library on the number and types of early separation incentives offered and utilized.