EARLY RETIREMENT/EMERITUS FACULTY Sample Clauses
The EARLY RETIREMENT/EMERITUS FACULTY clause outlines the terms and conditions under which faculty members may retire before the standard retirement age and potentially receive emeritus status. Typically, this clause specifies eligibility criteria, such as years of service or age requirements, and details the process for applying for early retirement, as well as the benefits or privileges retained by emeritus faculty, such as continued access to university resources or participation in academic events. Its core function is to provide a structured pathway for faculty to transition out of full-time roles while recognizing their contributions and maintaining their connection to the institution.
EARLY RETIREMENT/EMERITUS FACULTY. This is an incentive plan available an employee who has not elected to participate in the "Golden Handshake" Program, as set forth in 14.3, is over the age of fifty-five (55), is eligible for STRS or PERS benefits and is contracted to perform professional instructional and non-instructional services as identified in Article 7, Sections 2 and 3 of this Agreement for a maximum of five (5) years. Service under this contract must be completed within six (6) years of retirement.