Phased Retirement Program definition

Phased Retirement Program means an arrangement for early partial retirement, as embodied in a written contract between the university and the employee.

Phased Retirement Program means an arrangement for partial retirement as provided in a written contract between the university and the faculty or staff member.

Phased Retirement Program means an arrangement for partial retirement, or retirement in planned stages, as provided in a written contract between the University and the Faculty or Staff Member, consistent with the provisions of this policy.

Examples of Phased Retirement Program in a sentence

• Each participant who was on a twelve (12) month appointment upon entering the Phased Retirement Program and whose assignment during the period of re-employment is the same as that during the twelve (12) month appointment shall be credited with five (5) days of leave with pay at the beginning of each full-time semester appointment.

• The parties agree to jointly develop written information describing the current provisions of the Phased Retirement Program in this Agreement.

• Prior to re-employment, participants in the Phased Retirement Program must remain off the University payroll for one (1) calendar month following the effective date of retirement in order to validate their retirement, as required by the Florida Division of Retirement.

• The University shall reinstate dues deductions for employees who have previously filed authorization for dues deduction and are subsequently placed in leave without pay status, or who participate in the Phased Retirement Program, upon commencement of full- or part-time employment at FIU.

• The decision to participate in the Phased Retirement Program is irrevocable after the required approval document has been executed by all parties.

• The parties agree to jointly develop written information describing the current provisions of the Phased Retirement Program in the Agreement.

• The Human Resources Department provides retirement information and assistance for employees of the University, including information about the Phased Retirement Program.

• The employee's decision to participate in the Phased Retirement Program and to resign the employee's established position is irrevocable after the required approval document has been executed by all parties.

• Employees who have accrued at least six (6) years of creditable service in the Florida or Teachers Retirement System (FRS, TRS) or Optional Retirement Program (ORP), except those employees referenced in Article 24.6(A)(2), are eligible to participate in the Phased Retirement Program.

• Employees not eligible to participate in the Phased Retirement Program include those who have received notice of non-reappointment, layoff, or termination and those who participate in the State's Deferred Retirement Option Program (DROP).

More Definitions of Phased Retirement Program

Phased Retirement Program. Means a program contracted by the governing board of a participating university or community college in which a retired member may be reemployed in a faculty position provided:

Phased Retirement Program means an arrangement for partial retirement, or retirement in planned stages, as provided in a written contract between the University and the faculty or staff, consistent with the provisions of this policy. The duration of Phased Retirement is normally limited to five years although a longer duration may be specified in the Phased Retirement agreement.

Phased Retirement Program means a program contracted by the governing board of a university or community college participating under this chapter in which a retiree may be reemployed in a faculty position provided: