Phased Retirement Program Faculty and Staff
The Phased Retirement Program is available to all University personnel who at completion of the Phased Retirement Agreement meet the minimum retirement eligibility requirements established by Public Employees Insurance Agency. However, participation is subject to administrative approval of the terms and conditions reflected in a written contract specifying the arrangements under which the individual will be placed on phased retirement status. The retirement eligibility requirements are:
- Any age with 30 years of service, or
- Age 60 with a minimum of 5 years of service
An individual who enters the Phased Retirement Program on a permanent basis must agree to a 25% reduction in FTE (full-time equivalent) employment status with the University, with the clear understanding that the total FTE
percentage for all services performed for the University as an employee
cannot thereafter be increased, although it may thereafter be
If the FTE is further decreased, an addendum to the contract will then be negotiated between the individual and the department head. Participation in the Phased Retirement Program is not an entitlement or a right automatically available to all persons who meet the eligibility criteria. It is subject to administrative review and approval of the terms and conditions reflected in a written contract. The contract specifies the arrangements under which the individual will be placed in phased retirement status.
The unit and the University may consider any relevant factors when reviewing the request, including: the availability of coverage for assigned duties, disruption that such participation may create in the unit, the availability of funding, and operational needs of the unit. Units may identify additional criteria for review of requests.