Faculty Early Retirement Program
Eligible tenured faculty unit employees who have reached the age of fifty-five (55) may, subject to certain conditions, participate in a Faculty Early Retirement Program (FERP). Details of this program can be found in Article 29 of the collective bargaining agreement.
FERP allows retired faculty members to work up to five years after retirement. Timebase worked is limited to 50 percent of the time base in the year prior to retirement (working one semester at full-time or working half-time throughout the academic year for most full time faculty). Tenured faculty and librarians age 55 or older at the time of entry into the program are eligible. Counselor faculty unit employees are excluded. This is a negotiated benefit.
PRTB allows academic employees to phase into retirement through a reduction in time base to an average of two-thirds, one-half, or one-third of full-time for a maximum of five years while maintaining full retirement credit and other benefits.
The Post-Retirement Program allows retired employees and FERP participants, with approval, to work at the university for a maximum of 960 hours per fiscal year or 50 percent of the hours employed during the last fiscal year of service prior to retirement. Non-academic employees may work a maximum of 960 hours per calendar or fiscal year.