Phased Retirement

Step

Role or Responsibility

Reference or Tips

A manager should NOT initiate a conversation with an eligible employee about the possibility of entering Phased Retirement, since doing so may be construed as age discrimination.

Managers

Interested employees who are contemplating phased retirement should first ask their managers if part-time employment and Phased Retirement could meet the needs of their department while also meeting their needs.

Eligible employees

Managers should seriously consider the request and whether it could potentially meet the needs of the department and confirm sponsor and program requirements will permit employees to work part time.

Managers

The employee and manager must agree on the Phased Retirement start and end date, the percentage of effort to be worked, the prorated salary, and the employee's responsibilities and title while working in Phased Retirement.

Eligible employees and Managers

The manager should ask the campus HR office to have the employee's eligibility to participate verified.

Managers

Campus HR offices should submit a request to central office benefits services to determine employee eligibility for Phased Retirement (which is the same as eligibility for retiree health insurance).

Campus HR offices

The central office benefit services unit will inform the Campus HR office whether the employee is eligible

Central Office Benefit Services

After receiving verification of eligibility from central office, the campus HR office should send the Phased Retirement Disclosure, Application and Agreement to the employee’s manager.

Campus HR offices

The manager should meet with the eligible employee and the employee should complete the Application and sign the Agreement.

Managers and Eligible employees

The manager should obtain the signature of the principal investigator or department head, and then send the signed Agreement back to the HR office. If the job description is being revised, that should also be sent to the HR office.

Managers

If the manager is unable to approve the request because it does not meet departmental needs and/or sponsored program requirements, the manager should provide a written explanation to the employee.

Managers

After receiving the fully signed Application and Agreement, the campus HR office should make the appropriate changes in the employee’s Oracle HR/payroll record and enter the required information in the Special Information Type fields (see below).

Campus HR Offices

If the employee is requesting a distribution from the Retirement Plan or Optional Retirement Plan, the campus HR office will authorize the distribution from TIAA-CREF.

Campus HR Offices

The campus HR office must send an email to central office Benefits Services with the employee’s Phased Retirement start date and the expected ending date (retirement date). When the employee retires, the campus HR office should again notify central office Benefits Services.

Campus HR Offices

Will let the campus HR office know if the employee is eligible for Phased Retirement.

Central Office Benefits Services

Will make sure that LTD coverage continues while in Phased Retirement.

Central Office Benefits Services