Retirement Transition. 6.1. A bargaining unit member wishing to transition to retirement status may apply to do so under following conditions: • attains age 59 1/2 or older • be a participant in the USNH approved retirement plan for at least 10 years • not be participating in a USNH early retirement program • not be on long-term disability or worker’s compensation 6.2. The reduced appointment may normally be between 80% and 50%, but not less than 50%, and may be selected for a period of up to three years. The bargaining unit member’s salary base will be pro-rated based on the percent time of employment. 6.3. Participating staff will be eligible to continue their existing USNH group medical and dental coverage at the same cost sharing arrangement as a full-time bargaining unit member until full retirement. However, life insurance, long-term disability insurance, and retirement contributions will be based on the pro-rated salary. Tuition benefits and paid leave time are based on the reduced appointment percentage. 6.4. The supervisor shall make the bargaining unit member’s workload assignments based on the reduced time appointment. The bargaining unit member will not be permitted to work for the USNH in a status position more than three (3) years after the effective date of reduced time status associated with the transition to retirement. During this period of service, the individual agrees that they cannot increase the percent time worked. After completion of the transition period, the individual agrees to fully retire. The bargaining unit member may collect their retirement income (TIAA/CREF, Fidelity) while continuing to be employed in the reduced time status position.
Appears in 13 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
