Gradual Retirement. Tenured full-time academic staff members may request a gradual reduction in academic workload with proportional reductions in salary. The earliest that an academic staff member may request a gradual retirement is within two years of eligibility for early retirement. Academic staff members applying for gradual retirement shall sign a formal agreement to retire fully at the end of the period of gradual retirement (a maximum of two years). Gradual retirement arrangements should be as flexible as possible while meeting the needs of the academic unit concerned. These arrangements must be discussed with and approved in writing, with a copy to the Faculty Association, by the Xxxx and by the Vice- President (Academic). Normal academic workload will be reduced by no more than 50% FTE. Academic staff members shall make pension contributions during gradual retirement that are based on the partial salary received. However, the University shall make both its pension contributions based on the member’s full salary together with the difference between the member’s actual contributions described above and the contribution that would be required by the member’s full salary; or compensate the employee with salary if the University is prohibited from making such payments due to limitations under the Income Tax Act of Canada as a result of periods of leave. Beyond the normal retirement date, continuation of pension contributions is subject to the terms of the Academic and Administrative Pension Plan and limitations contained in the Income Tax Act of Canada. The contributions and coverage for other benefit plans shall be based on the terms and conditions of the plans themselves and the academic staff member’s actual salary. Academic staff members placed on salary continuance during a period of Gradual Retirement shall be eligible for benefits based on their applicable reduced salary. Should salary continuance extend beyond the agreed upon retirement date, the date will be extended until the academic staff member is able to return to work or reaches the normal retirement date, whichever is earlier. Academic Staff members eligible for the retiring allowance as defined in 19.1.1.3 shall have their allowance calculated at their full salary.
Gradual Retirement. An employee who is at least fifty-five (55) years old, and who has completed ten (10) years of service, may choose to take gradual retirement over a maximum period of three
Gradual Retirement. Gradual Retirement will be available at the option of members who will have accumulated at least twenty- five (25) years of pensionable service and will be sixty (60) or will have obtained the ninety (90) factor at the time of retirement. A Member who is receiving benefits from the Pension Plan is not eligible for Gradual Retirement. An eligible Member must apply to the Principal in writing three (3) months before their Gradual Retirement Agreement (GRA) is to begin. Members must sign a formal agreement to retire fully at the end of the period of gradual retirement (a maximum of three years). The terms of a three-year GRA are as follows:
i) A Member shall agree to retire from their full-time faculty position as of June 30 or Dec 31 in year three of the GRA:
ii) Year One Gradual Retirement: Members receive two (2) course releases
iii) Year Two Gradual Retirement: Members will receive three (3) course releases
iv) Year Three Gradual Retirement: Members will receive three (3) course releases
v) Senior Instructors with a normal teaching load of twenty-one (21) credits per year will receive an additional course release in each of the GRA’s three years noted above.
vi) Article 10 Sabbatical, Article 9.32 Research Leaves, Article 9.33 “Perfectionnement,” and Article
Gradual Retirement. Modification of the dates for members to apply for gradual retirement, removal of the deadline to apply on June 1 following the age of sixty-five. The application will include a detailed plan of the distribution of duties and identification of two patterns for workload distribution across the retirement period. Accrual of sabbatical eligibility prorated to the workload reduction for members on a gradual retirement plan. A member granted sabbatical during the gradual retirement plan is considered to work at the reduced workload for that corresponding year.
Gradual Retirement. Tenured full-time academic staff members may request a gradual reduction in academic workload with proportional reductions in salary. The earliest that an academic staff member may request a gradual retirement is within two years of eligibility for early retirement. Academic staff members applying for gradual retirement shall sign a formal agreement to retire fully at the end of the period of gradual retirement (a maximum of two years). Gradual retirement arrangements should be as flexible as possible while meeting the needs of the academic unit concerned. These arrangements must be discussed with and approved in writing, with a copy to the Faculty Association, by the Xxxx. Normal academic workload will be reduced by no more than 50% FTE. Academic staff members shall make pension contributions during gradual retirement that are based on the partial salary received. However, the College shall make both its pension contributions based on the member’s full salary together with the difference between the member’s actual contributions described above and the contribution that would be required by the member’s full salary; or compensate the employee with salary if the College is prohibited from making such payments due to limitations under the Income Tax Act of Canada as a result of periods of leave. Beyond the normal retirement date, continuation of pension contributions is subject to the terms of the Academic and Administrative Pension Plan and limitations contained in the Income Tax Act of Canada. The contributions and coverage for other benefit plans shall be based on the terms and conditions of the plans themselves and the academic staff member’s actual salary.
