Phased Retirement Clause Samples
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Phased Retirement. Faculty Faculty bargaining-unit members may elect to reduce, on an irrevocable basis, their workload to fifty percent (50%) for a period of up to three (3) years, following upon which they will retire from the University. The salary basis for this period shall be fifty percent (50%) of the amount paid to the employee prior to his/her election of this option, as adjusted by such across-the-board and selective increases that may become available. During this period, the employee shall be entitled to all benefits associated with full-time employment, including participation in the University’s medical insurance programs and pro-rata participation in the life insurance, disability and other operative retirement defined programs.
Phased Retirement. Tenured faculty, and Non-Tenure-Track faculty/librarians on continuing appointments, are eligible to participate in a phased retirement program under which they may, for up to two years prior to separation from the University, reduce in time to 50% (or greater) FTE with a corresponding reduction in salary and an agreed-upon definition of their reduced responsibilities. At the time of approval of any such arrangement, the bargaining-unit member shall be required to provide a non-rescindable resignation effective at the end of the agreed-upon term of the reduced appointment. All such arrangements shall be subject to prior approval by the department chair, ▇▇▇▇, and ▇▇▇▇▇▇▇ and the agreement shall be signed by the unit member and the FSU. Decisions shall not be grievable under the FSU bargaining agreement. Faculty members on phased- retirement appointments will continue to be members of the bargaining unit. 9 ▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇.▇▇▇/gic/ 10 ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇.▇▇▇/sites/default/files/board-policies/T76-081- Academic%20Personnel%20UMA%20UMB_rf012021.pdf
Phased Retirement. Over the course of this Agreement, the parties will discuss the ways in which long term employees who enter into phased retirement plans and provide Council with at least 12 months’ notice of retirement, may be compensated.
Phased Retirement. 25.1 The provisions of the Award shall apply.
Phased Retirement. The intent of phased retirement is to permit employees who are eligible to retire to reduce their work week in preparation for retirement. Details concerning how Phased Retirement would work and how such opportunities will be awarded are outlined below:
Phased Retirement. (i) In recognition of the ageing workforce in local government and the need to retain skills and experience within the industry, employers are encouraged to develop and promote flexible work and leave arrangements to enable their employees to better manage their transition into retirement.
(ii) Examples of flexible work and leave arrangements include:
a) Part-time work;
b) Flexi time;
c) Leave without pay;
d) Job sharing arrangements;
e) Variations to ordinary hours and rosters;
f) Job redesign; and
g) Purchased additional annual leave arrangements.
(iii) The terms of a flexible work and leave arrangements shall be in writing and may be varied from time to time, by agreement, to suit the specific needs of either the employer or the employee.
Phased Retirement. Section 1. Pursuant to Minnesota Statutes 354.444 and district administrative guidelines, a teacher who is at least 62 years old shall be eligible to request phased retirement and may do so by submitting an application to the district. The application for phased retirement shall include the desired full time equivalency the teacher is requesting to work, the teacher’s preferred assignment, and whether the teacher is requesting a return to work agreement for one or for two years.
Phased Retirement. 34.01.04.01 Full-time members must give notice of intention to participate in the phased retirement program at the time they give notice of intention to retire (see Article 34.01.01)
34.01.04.02 All full-time members who have attained the age of 55 years, have at least 10 years of service with Lakehead University on July 1st in the year of retirement, and who have commenced retirement at the time the phased retirement program comes into effect are eligible for the phased retirement program.
34.01.04.03 Under the terms of phased retirement, on July 1st of the year of retirement, members shall be hired on a three year contract basis subject to the terms and conditions of the Agreement. The parties may include other terms and conditions provided such terms and conditions are acceptable to the Board, the Association, and the member.
34.01.04.04 An agreement to participate in the phased retirement program is revocable by the member. Article 34.02 shall be applicable in such cases.
34.01.04.05 The required workload of faculty members on phased retirement shall be composed exclusively of teaching duties. This does not preclude such members from volunteering for other duties/activities that are acceptable to his/her ▇▇▇▇. The normal teaching load of a member on phased retirement shall consist of four HCEs in Year 1, three HCEs in Year 2, and two HCEs in Year
Phased Retirement. This option provides for reduced levels of employment following official retirement. It is available to tenured academic employees ages 55 to 70 or to those under age 55 who have accumulated at least fifteen (15) years of full-time tenured academic employee service at Tacoma Community College. The duration may continue up to a maximum five (5) years after retirement. The workload during the reduced retirement period may not exceed (1/3) per quarter of the employee’s normal full time workload per quarter. During the reduced retirement period, the employees will have the same assurance of work assignment they would have as a tenured employee. The level of compensation will be a proportion of the normal full-time salary for the position to which the employee is assigned during the phased retirement period.
Phased Retirement. 57.1. An Employee who attains the age of fifty-five (55) years or over may seek to phase into retirement as agreed with the Employer in accordance with the Parliament’s Policy and Guidelines. Agreement will not be withheld unreasonably.
57.2. An Employee seeking to enter into phased retirement whose regular hours of duty are 37.5 hours per week, may seek to reduce those hours to undertake part-time employment as a percentage of a 37.5 hour week.