Given the continued interest by the University faculty, I am writing with regard to a phased retirement option for FY2015 through FY2018. This option recognizes that the University is an integral part of faculty lives and, as such, provides a respectful transition for faculty from full-time responsibilities to retirement. This option consists of a two-year phased retirement assignment. Faculty interested in the phased retirement option should read the information below and submit a proposal to the Dean of the College by April 14, 2014 for the 2014-2015 academic year.
The purpose of this phased retirement option is to provide faculty members at the University of Rhode Island with the opportunity to reduce their commitments and responsibilities during the academic year for two (2) years prior to their desired retirement.
PHASED RETIREMENT OPTION
Under this option, “phased employment” refers to a reduced workload over the academic year. Specifically, participating faculty will be assigned a 50% workload assignment (see C3) during either the fall or spring semester and no assignments during the alternate semester. 50% workload assignments also will be considered over the entire academic year.
Any continuing full-time tenured faculty member who has attained the age of at least 55 prior to September 1 of the academic year in which he/she will be employed under the phased option; and who has completed at least l0 years of service as a full-time tenured faculty member at the University of Rhode Island; and who desires and is willing to commit to retiring no later than two (2) years from the commencement of the phased employment is eligible.
- Eligibility to participate in this two (2) year phased retirement option will require the faculty to apply by April 14, 2014 for the following 2014-2015 academic year.
- Following the submission of the faculty member’s 50% workload proposal (see section C3 and D1), a recommendation on the workload proposal will be made by the Dean to the Provost and Vice President for Academic Affairs. The recommendation by the Dean shall be subject to approval of the Provost and Vice President for Academic Affairs.
- For purposes of this document, phased employment shall include a 50% workload assignment that will consist of: 1) the equivalent of teaching three courses for the half year or the equivalent of a teaching course load for the half year based on credit hours (e.g., teaching large classes); and advising undergraduate students; and 2) one or more of the following: mentoring graduate students; and/or remaining engaged in research activities such as continuing to produce scholarly publications or other discipline specific scholarly activities (e.g., works of art, theatrical plays, musical scores, etc.); and/or participate in meaningful service.
- The faculty member will receive one-half (50%) of his/her full-time academic-year base salary paid on a biweekly basis.
- The University’s contribution to the faculty member’s retirement plan (TIAA/CREF, VALIC or METLIFE) will be pro-rated to one-half (50%) of the academic-year base salary.
- Full medical benefits will be provided to the faculty member as specified in the negotiated agreement during half-time employment as long as he/she continues to be employed at 50%.
- Sick leave will be accrued at a rate of 50% of that specified in the negotiated Agreement.
- In consideration of the opportunity for phased retirement, the participating faculty member shall retire no later than the conclusion of the approved two (2) year phased employment. The decision to participate in the phased retirement option and retire no later than the end of the two (2) year phased employment shall be irrevocable after a 30 day initial signing. The faculty member has the option to retire at the end of the first year of the two (2) year phased employment with notification to the Dean by March 1 of that year. Retirement shall be effective at the end of the fiscal year (on or about June 30).
- A faculty member who wishes to participate shall inform his/her Department Chair and Dean in writing of his/her desire to participate in the phased retirement option no later then April 14, 2014 for the 2014-2015 academic year. In addition, the faculty member will outline in writing his/her proposed teaching and/or advising, mentoring, research and service contributions during the employment semester(s). Final decisions for acceptance or denial of phased employment proposals will be made by the Provost and Vice President for Academic Affairs or his designee. In the case where a number of faculty within a single department apply for this plan, the number of applicants approved will be at the discretion of the Provost and Vice President for Academic Affairs or his designee.
- This phased retirement option will be evaluated at the end of the third year of this program for possible continuation with the level of participation and impact on departments largely determining the extension of the program.
- For future years, a faculty member who wishes to participate shall inform his/her Department Chair and Dean in writing of his/her desire to participate in the phased retirement option no later then February 1st of 2015 for consideration during the 2015-2016 academic year, February 1st, 2016 for consideration during the 2016-2017 academic year, and February 1st, 2017 for consideration during the 2017-2018 academic year.
- Office space, laboratory space, equipment access and clerical assistance will be provided by the Dean of the college during phased employment. Participants may compete for travel funds on an equal basis with other faculty depending on the availability of funds.
- Tuition waivers shall continue for those eligible spouses and dependents enrolled at the time of participation in the part-time employment and who otherwise continue to meet the eligibility requirements as stipulated by the Agreement.
- This phased retirement option requires a commitment to the institution and, as such, is available to faculty who do not intend to apply for a sabbatical leave prior to retirement.
For further information, please contact Vice Provost Clifford Katz.