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Faculty Voluntary Phased Retirement Program (Policy 4470)

University Policy 4470

Download a Printable Version of Policy 4470

Effective Date

April 2005

Last Revision Date

September 2009

Responsible Party

Provost and Vice President for Academic Affairs, (208) 426-1202
Human Resources (208) 426-1616

Scope and Audience

This policy applies to all eligible faculty members. Eligible faculty members must also have approval from the appropriate Department Chair, Dean, and Provost.

Additional Authority

Idaho State Board of Education Policy, Section II.K.

1. Policy Purpose

To provide Boise State University faculty with an optional voluntary retirement program for a phased approach to retirement.

2. Policy Statement

Boise State University offers eligible faculty who plan to retire the option of “phasing” into complete retirement by various combinations of partial appointments that amount to less than half-time (i.e., not greater than 49%). Phased Retirement (“the Program”) shall be allowed only after a determination that part-time continued appointment not only benefits the individual faculty member retiree but also will result in a significant benefit to the University. Appointment to the Program shall be for a specific period of time not to exceed three academic years. Such appointments shall terminate at the expiration of the phased retirement period and existing policies of the University related to part-time appointments and/or emeritus faculty status apply. However, individuals may negotiate an extension of the phased retirement agreement after satisfactory service during the previous period.

This Program is subject to change without notice in order to maintain compliance with Internal Revenue Service, Social Security Administration, State of Idaho, and/or applicable PERSI/ORP plan rules.

3. Definitions

3.1 Eligible Faculty Member

A full-time tenured faculty member who is at least age 55 and has 10 years contributory participation in PERSI or ORP and 10 years with Boise State University.

3.2 Program

Boise State University Faculty Phased Retirement Program.

3.3 Retirement

The full or partial termination of regular compensated service as an employee.

4. Responsibility

a. The faculty member is responsible for following procedures for the Program and for determining whether the Program is in their best interests. Faculty members are advised to contact Human Resources for information related to retirement programs and benefits.

b. The appropriate Chair, Dean, and Provost are jointly responsible for reviewing the faculty member’s plan and determining whether it is in the best interests of the University.

c. Human Resources is responsible for providing the faculty member with benefits information after receiving a request from a faculty member.

5. Development of Plan

a. Eligible faculty members desiring phased retirement must develop a Phased Retirement Plan through discussions with their department chair at least one semester prior to the desired start date.

b. Considerations for eligible faculty member:

  • Once made, decision to retire is irrevocable.
  • Tenure, if applicable, is relinquished in exchange for the fixed term phased retirement contract.
  • Eligible faculty members do not have an absolute right to acceptance into the Program. If the faculty member’s decision to retire is contingent upon approval of a phased retirement plan, the faculty member should first submit a plan for approval by the University—the faculty member cannot be assured a plan will be approved. The plan must also be compatible with the University’s needs.
  • Human Resources should be contacted to ensure understanding of how the Program will impact benefits.

c. Considerations for University Department:

  • If the department plans to hire a part-time employee to supplement the work done by the retiring faculty member, this must be worked out both in terms of budget and workspace.
  • A department is under no obligation to grant a phased retirement that is unworkable from its standpoint.

6. Written Contract

a. A proposed written contract will be prepared by the faculty member and the department chair for approval by the appropriate dean. If, in the opinion of the dean, the Phased Retirement Agreement will result in significant benefit to the University, it will be forwarded with a request for review/approval to the Provost and Vice President of Academic Affairs.

b. Upon final approval, the contract will remain in effect until complete retirement at the end of the phased retirement period, unless the faculty member elects complete retirement prior to that time.

7. Faculty Compensation and Benefits during Phased Retirement

7.1 Salary

Salary during the phased retirement period will be based on the annual salary at the beginning of the period and determined by the percent time of appointment. Increases in salary, if any, will be made in accordance with regular salary policies for academic appointments.

7.2 Retirement annuity benefits

Receipt of retirement annuity payments is in accordance with PERSI and/or Optional Retirement Program policies or rules.

7.3 Group Insurance and other employee benefits

Group insurance and other employee benefits will be available to the extent provided by State law and current University policy.

8. Related Information

9. Forms

Faculty Voluntary Phased Retirement Agreement (PDF)

Revision History

September 2009