Optional Phased Retirement Program. The College may, at its option, provide each faculty member who retires under the rules and provisions of the Florida Retirement System or the Teachers’ Retirement System with thirty
Optional Phased Retirement Program. The College may, at its option, provide each faculty member who retires under the rules and provisions of the Florida Retirement System or the Teachers’ Retirement System with thirty (30) or more years of creditable service, or at age sixty-two (62) with ten (10) or more years of creditable service, an Optional Phased Retirement Program (OPRP). To be eligible for the OPRP, the faculty member must have ten (10) or more years of creditable service at Pensacola State College. The parties agree to develop jointly written information describing the provisions of the retirement program in this article. The College shall distribute the information to all full-time faculty members. Faculty members considering retirement should consult with the Human Resources Department. Recent actions of the Florida Legislature (such as the DROP program) may impact upon the faculty member’s retirement plans.
