Transitions Phased Retirement Program. Why Transitions? Alternative focus – holistic vs financial Cohort-based Pilot program Does not replace existing.

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Presentation transcript:

Transitions Phased Retirement Program

Why Transitions? Alternative focus – holistic vs financial Cohort-based Pilot program Does not replace existing programs

Eligibility Tenured faculty or continuous academic professional on a 9-month, 75% or greater appointment Age 65 or older with a minimum of 5 years of service at retirement Elect the program by June 30, 2010

Transitions Provisions 2-year phased retirement period Retirement date at the end of the 2012 appointment term Negotiated work effort of 25% to 75% Full benefits regardless of work effort during the 2 year work effort Transition Workshop Series

Transitions Provisions (cont) Health Care Savings Plan deposit after retirement (52 pay periods of active subsidy) Research and Teaching (RaT) account deposit available for professional development use 2 years after retirement

Questions?