Reporter Volume 26, No.23 April 6, 1995

By CHRISTINE VIDAL
Reporter Editor
For Bob McIsaac, retirement has meant time "to do things I couldn't do
before."
	Professor emeritus of pharmacy and therapeutics in the School
of Medicine and Biomedical Sciences, McIsaac was among those who took
advantage of a previous incentive program and retired in 1985.
	Ten years later, he's probably never been busier in his life.
	These days he plays first bass in the Niagara Symphony
Orchestra, (his wife, Carol, also performs on piano and organ with the
volunteer orchestra). They've been to the Galapagos Islands,
volunteered at a marine biology center in Hawaii, traveled to Alaska,
taken up square dancing, round dancing and ballroom dancing. They
volunteer as ushers for football games in the University Stadium and
concerts and performances in Slee Hall and the Center for the Arts and
regularly attend -- and have given -- lectures at the Buffalo Museum
of Science. And they're active in the Emeritus Center.
	"I think if you talk to anyone who's retired, they'll tell you
it's wonderful," McIsaac said. "It's really great to do all these
things."
	"I don't understand people who say they dread retiring," said
Mrs. McIsaac. "It's been wonderful."
	McIsaac didn't completely sever his ties with the university
when he retired in 1985. For three years, he served part time as
assistant vice provost for research and graduate education and
continued to maintain an office at UB. He took full retirement in
1988.
	After 35 years, his job "had truly become work," said McIsaac,
who added he has no regrets whatsoever about retiring. "None at all.
I've enjoyed myself very much. I've been able to do things I couldn't
before retiring," he said. "I think if anyone is thinking of retiring,
they should have goals in mind of things they'd like to do." 
	And they should do their homework, the McIsaacs said.
	"It's a big step. You have to do a lot of figuring. We did
everything we could to prepare," said Mrs. McIsaac. "It does take a
lot of thinking, so I can understand (people's) anxiety (about
retiring)."
	It's important to plan, they stressed. Talk to people who have
retired, attend programs designed to help those considering retirement
to understand what their income and benefits will be.
	"We went to a financial planner early in retirement. They help
you get an idea on assets and income. It's been very helpful for us,"
McIsaac said.
	"The retirement program we had was quite good," he said. "It
wasn't large, but it was enough to provide a fairly comfortable
retirement."
	UB would like to make retirement equally positive for
employees eligible to participate in the current early retirement
incentive program.
	April 19 is the deadline for faculty and staff to file a
non-binding Notice of Interest with Personnel Services.
	"We have retirees who tell us they're financially better off
retiring than working. It's especially true of those who keep some
affiliation with the university," said Provost Aaron N. Bloch.
	Those eligible for the retirement incentive program include
some of the most productive and vital people at UB, and administrators
are very open to arrangements that would allow continued access and
affiliation, Bloch said.
	"We'd like many of them, as appropriate, to remain affiliated
in some way with the institution. The retirement incentive offers
flexibility in life to them and flexibility in funding to the
university. We can both benefit from that," he said.
	Faculty who opt to retire may, for example, be able to
continue to use lab or office space to perform research and obtain
grants, or to teach part time as desired, "but be freed of committee
work and other obligations," Bloch said. UB can make arrangements
tailored to the individual, depending on the degree and
appropriateness of affiliation the individual would like to keep.
	"Many faculty and staff have prepared carefully for
retirement, but I know there are others who may not have fully
assessed the implications" of their retirement benefits, Bloch said.
To assist all those considering retirement, the university will make
available an outside professional financial planner, Peat Marwick, who
can provide information and advice.
The financial advisor will provide the following sessions: a general
information session for all those considering retiring to be held
prior to the April 19 non-binding Notice of Interest deadline; and
intensive sessions, lasting two to three hours, for those who file a
Notice of Interest. The individual sessions will be completely
confidential and no information from them will be available to the
university.
	"For people who actually choose to retire, we will make
available upon request an additional private follow-up session," Bloch
said. Financial advisors "will not be selling products, so there's no
vested interest on the part of the planner," Bloch said.
	"There's nothing to lose by taking this first step or at least
attending the first seminar. There is no obligation resulting from
this. The intent is to clarify these financial issues and to help
faculty and staff make the decisions that are right for them," Bloch
said.
	UB is doing everything it can to help employees make an
educated decision about retirement, according to Voldemar Innus,
senior associate vice president for University Services.
	The university will provide each individual who qualifies for
the early retirement incentive program with a resources benefit form,
which will contain TIAA-CREF annuity information, vacation buyback
information and an analysis of sick leave accruals that can be used to
pay for health insurance benefits after retirement, Innus said.
	In addition, Social Security will provide an analysis of the
Social Security benefits that each individual will qualify for "and
they will do it by a special process that will permit them to send
that information within seven days of submission of a request," Innus
said.