Common use of Phased Retirement Program Clause in Contracts

Phased Retirement Program. ‌ The Phased Retirement Program is available for those full-time faculty unit members who are tenured, and who: 1. have been employed full-time in postsecondary education faculty or administrative positions for 15 or more years (at least 8 of which have been at a Board of Regents institution); and 2. wish to ease into retirement by reducing their workload obligation gradually over a five- year period. Qualified faculty unit members, as specified above, who wish to enter the program must submit a written request to be placed on a phased contract to the immediate academic supervisors (and the appropriate chair or director if necessary) and the appropriate ▇▇▇▇ at least one semester prior to the proposed effective date of the contract. The grant of a phased retirement appointment is discretionary with the institution. Upon entering into a phased retirement program, faculty unit members will affirm in writing their understanding that their employment will terminate no later than upon completion of their fifth year on the phased retirement program, and that in case of a Reduction in Force, their retention priority is as outlined in 16.2 Faculty Unit Member Reduction Procedures.

Phased Retirement Program. ‌ The Phased Retirement Program is available for those full-time faculty unit members who are tenured, and who: 1. a. have been employed full-time in postsecondary education faculty or administrative positions for 15 or more years (at least 8 of which have been at a Board of Regents institution); and 2. b. wish to ease into retirement by reducing their workload obligation gradually over a five- five-year period. Qualified faculty unit members, as specified above, who wish to enter the program must submit a written request to be placed on a phased contract to the immediate academic supervisors (and the appropriate chair or director if necessary) and the appropriate ▇▇▇▇ at least one semester prior to the proposed effective date of the contract. The grant of a phased retirement appointment is discretionary with the institution. Upon entering into a phased retirement program, faculty unit members will affirm in writing their understanding that their employment will terminate no later than upon completion of their fifth year on the phased retirement program, and that in case of a Reduction in Force, their retention priority is as outlined in 16.2 Faculty Unit Member Reduction Procedures.