II. Retirement Options

In order to enable faculty members to make an easy and orderly transition to retirement, the University offers the following retirement options:

  1. General Retirement Plan and retirement bonus
  2. Incentive Faculty Retirement Plans (new plan announced February 22, 2010) 

Two versions: Version one can include a phased ½ time teaching opportunity for up to 3 years, or the faculty can retire at the end of the current term. Version 2 is a teach full-time until 70 for a bonus of one times your salary

  1. 3-Year Phased Retirement Plan
  2. 2-Year Phased Retirement Plan

These retirement programs are voluntary programs. The University can provide you with information and answer your questions about these programs to enable you to make an informed decision, but we cannot advise you to accept or decline the various retirement options. The decision is entirely up to you.