REQUEST TO PARTICIPATE IN THE FACULTY PHASED RETIREMENT PROGRAM AND IRREVOCABLE DECLARATION OF INTENT TO RETIRE
Name:______Rank:______
Department:______
Requested Phased Retirement:
Start Date: ______End Date: ______Retirement Date: _______
Requirements for Participation (See Article XII.K. of the AAUP-AFT Contract for more information):
- Must be an AAUP bargaining unit member holding tenure.
- Will have attained the age of sixty (60) as of September 1 of the year in which faculty are requesting the phased retirement.
- Must have provided at least ten (10) years of full-time service to the University.
- Must submit the request prior to March 1 of the year in which the phased retirement will begin.
I understand the following:
- Once approved, this request is irrevocable.
- If approved, I will be employed as a fractional time employee (50%) for the duration of the phased retirement and my salary will be reduced accordingly.
- Not all requests will be granted.
- I will be eligible for across-the-board and selective increases that may become available, but any such increases will be based upon my fractional-time salary.
- During this period, I shall continue to be entitled to all benefits for which I am eligible 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.
- I will not be eligible for sabbatical leaves.
Job Duties during Phased Retirement Program:
I hereby request a phased retirement program as described within this document. I understand the requirements and conditions for this program.
______
Signature of Faculty MemberDate
Approvals
______
Signature - Dean ApprovalDate
______
Signature - Provost ApprovalDate
Article XII K. Voluntary Early Retirement
It is recognized that a program of voluntary retirement from service to Wayne State University can at times be of benefit to the individual employee and the University.
1.Eligibility
Bargaining-unit members holding tenure or employment security status who will have attained the age of sixty (60) as of September 1, 2012,2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021 (depending on the academic year during which they wish to enroll in this program), and who have provided at least ten (10) years of full-time service (or its equivalent) to the University shall be eligible to participate in the following retirement options
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 salarybasis 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 shallbe 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
{00045286.DOC /}