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Voluntary Phased Retirement for Faculty
Posted 9/28/2005
The Provost’s Office is pleased to re-introduce a Voluntary Phased Retirement Plan for eligible full-time faculty. The plan will allow faculty members who are contemplating retirement a gradual disengagement from their current responsibilities. Over a limited number of years, eligible faculty members can choose to reduce their workload and salary while retaining their full benefits at the same contribution rates as regular full-time faculty members.
To be eligible, full-time faculty members must be tenured, must be at least 55 years of age, and must have at least 10 years of full-time service at the University of Hartford by August 15, 2006. The plan is entirely voluntary. Faculty members may choose to retire without entering into a phased plan.
A major change in the Voluntary Phased Retirement Plan from last year is that faculty members who are approved to participate in the plan may access their TIAA-CREF retirement annuity while they are still working, subject to the terms of the funding vehicle.
The details of the Voluntary Phased Retirement Plan can be found at http://ned.hartford.edu/forms.
The enrollment period for the Voluntary Phased Retirement Plan begins immediately and ends on February 15, 2006. Completed forms (with the faculty member’s and dean’s signature) must be submitted to the Provost’s Office no later than February 15, 2006, so that faculty contracts issued on March 1, 2006 can reflect the phased retirement agreement.
If you have any questions, please contact Assistant Provost Katherine A. Black at kablack@hartford.edu or 768.4504.
To be eligible, full-time faculty members must be tenured, must be at least 55 years of age, and must have at least 10 years of full-time service at the University of Hartford by August 15, 2006. The plan is entirely voluntary. Faculty members may choose to retire without entering into a phased plan.
A major change in the Voluntary Phased Retirement Plan from last year is that faculty members who are approved to participate in the plan may access their TIAA-CREF retirement annuity while they are still working, subject to the terms of the funding vehicle.
The details of the Voluntary Phased Retirement Plan can be found at http://ned.hartford.edu/forms.
The enrollment period for the Voluntary Phased Retirement Plan begins immediately and ends on February 15, 2006. Completed forms (with the faculty member’s and dean’s signature) must be submitted to the Provost’s Office no later than February 15, 2006, so that faculty contracts issued on March 1, 2006 can reflect the phased retirement agreement.
If you have any questions, please contact Assistant Provost Katherine A. Black at kablack@hartford.edu or 768.4504.
