HR0374 – Post-Retirement Service Program
To provide tenured faculty a transition from full-time service to retirement.
- The Post-Retirement Service Program is a plan for tenured faculty to transition from full-time teaching and/or research to retirement upon agreement by the faculty member and the department head. A tenured faculty member would completely retire (therefore, giving up tenure) from the university and sign an agreement to return to the university as a temporary employee for up to four (4) years. During this period as a temporary employee, the faculty member would work a schedule that had been mutually agreed upon between the faculty member and his or her department head. Under the agreement, the faculty member would receive a pro-rata salary and a salary supplement equal to a predetermined premium for health insurance (see plan document).
- Full-time, tenured faculty who meet one of the following criteria are eligible to participate in the Post-Retirement Service Program.
- Any age with:
- at least 30 years of creditable service in the Tennessee Consolidated Retirement System or
- at least 30 years of full-time equated service in the state of Tennessee Optional Retirement Program (ORP).
- Age 60 or older with:
- at least 10 years of creditable service in TCRS or
- at least 10 years of full-time equated service in the state of Tennessee ORP.
- Age 55 but less than 60 with three (3) or more years of participation in the state of Tennessee employee group insurance program immediately prior to retirement AND:
- 10 but less than 20 years of creditable service in TCRS or
- 10 but less than 20 years of full-time equated service in the state of Tennessee ORP.
- Age 55 but less than 60 with one (1) or more years of participation in the state of Tennessee employee group insurance program immediately prior to retirement AND:
- 20 years or more of creditable service in TCRS or
- 20 years or more of full-time equated service in the state of Tennessee ORP.
- Any age with:
- Faculty who wish to participate must submit a written NOTICE OF INTENT TO PARTICIPATE letter to their department head, dean, and chief academic officer. Faculty who participate must retire with an effective date not later than 180 calendar days nor sooner than 90 calendar days after they submit the NOTICE OF INTENT TO PARTICIPATE letter, except that, when the end of the 180-day period falls within a semester, the period may be extended to no later than the beginning of the subsequent term (semester, or summer, as appropriate).
- Various other regulations and restrictions (regarding compensation, assignment, employment status, termination of agreement and others) accompany this post-retirement service agreement. The official plan document can be found online at the Benefits and Retirement web site or an official copy can be obtained from Benefits and Retirement at 115 Conference Center, Knoxville, Tennessee 37996-4115, 865-974-4341.
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Benefits and Retirement (865) 974-4341 firstname.lastname@example.org