(Effective at end of Spring 2014 or Fall 2014 Semesters)
Deadline for Application: February 28, 2014
The application deadline for all retirement dates (May 15, 2014, June 30, 2014, or December 31, 2014) is February 28, 2014. No late applications will be accepted.
- Download the Early Retirement Approval Form Fall 13 – Fall 14.
- Faculty member should fill out the top portion of this form with required information. This is a MS Word form so you may enter information in the grey boxes, which expand as you type.
- In the college box, please enter your current college, not your new college if different under the restructuring plan.
- Indicate which retirement option you intend to take; standard buy out or phase out.
- Indicate your intended retirement date (or phase out start date) by checking the appropriate box.
- Faculty member may print and sign form and take it to his or her chair (or equivalent), or may forward the form electronically so that the chair or dean may fill out bottom portion electronically. Faculty member must sign the form before it is sent to the Provost’s Office.
- Chair or dean must fill out bottom portion of this form with required information.
- In the first block, indicate how workload will be covered during the early retirement buyout period only by checking the appropriate box. Do not include fringes.
- In the estimated cost savings block, fill in the retiring faculty member’s current salary or anticipated salary at the time of retirement (if raise or promotion is expected) in the top row of the table. Total the seven years in the last column. In the second row, enter the estimated replacement cost for each year. The first year will either be zero or the cost of temporary replacement labor. Subsequent years may be estimated salary of a new hire replacement. Total the estimated replacement costs in the last column.
- Add any comments for clarification, as needed.
- If the faculty member has not already signed the form in step 3, he or she should sign now and obtain signatures from chair and dean.
- Submit completed and signed form to the Provost’s Office by deadline.
Recommended for Applicants:
- It is a good idea to discuss your intentions informally with your chair prior to submitting the approval form.
- You may make an appointment with Associate Vice Chancellor Christy Drale prior to submitting the approval form to review early retirement options and restrictions.
- An appointment with Benefits Manager Debra Simpson-Webster to review retirement benefits options is strongly advised. You will need to have your choices identified before the contract can be completed.