SIP Update

Hello Faculty,

We hope you are doing well and wish you a smooth transition into the Fall 2022 semester. For those of you who did not get a chance to watch the SIP Introduction video from conference day, you may access it by clicking here. Here is a summary of key points addressed in the video:  

• Dallas College has hired PARS (Public Agency Retirement Services) to administer the SIP (Separation Incentive Package). 
• It will be 75% of your 2022-2023 base salary (up to $100,000) that will be used to fund an annuity through Pacific Life Insurance Company. 
• Faculty (any age) with 15 years of full-time college service as of 11/30/22. 
• There are 14 different annuity options. 
• Enrollment window opens 9/1/22. 
• If you are eligible, you will receive your customized packet the following week.  There will also be an online orientation.  This will contain information on whether SIP is right for you. 
• You will be provided with their Plan Support Department information on how to contact them via email or phone with any questions. 
• There will also be several PARS Interactive SIP Q&A sessions. 

The window for eligible faculty to enroll in the SIP will open on September 1, 2022 and close on October 20, 2022. Information sessions with PARS representatives are being scheduled for Sept. 7, 12, 14, 19 and 21^st. HR should be providing more information shortly. We will keep you posted!