UC Phased Retirement Program

Program Summary  UCSC Implementation Procedures
Overview Procedures for Enrolling
Authority Time Reduction Requirements
Eligibility Changing a Phased Retirement Contract
Details Ending a Phased Retirement Contract
Cash Incentive Formula Deadlines for Processing Contracts
Impact on Benefits Forms/Resources
Transfer, Promotion, Reappointment  
   

 Program Details

  • Originally offered in 2012, the Phased Retirement Program has been extended through December 31, 2019.

  • Participation in the program is subject to approval by the Principal Officer.

  • The decision of a department whether or not to offer the program is not subject to any complaint resolution or grievance procedure. However, management decisions to deny participation may be subject to review under the applicable complaint resolution policy or collective bargaining agreement provisions.

  • Prior to entering into the Phased Retirement Program, participants must sign a program contract that delineates the terms of the program. Requests may be denied by department management based on review of operational circumstances (e.g. a determination that business needs require full‐time availability of the position or a determination that budget resources are not sufficient to support participation in the program).

  • Participants may retire at the end of 120 days of being in the program and up to a maximum of three years in the program, but if they continue beyond one year, they must reduce their appointment percentage by at least an additional 10% for year two and at least an additional 10% for year three or forfeit their incentive.

  • Once participants reduce their appointment percentage to 50 percent, they must retire at the end of one year or forfeit their incentive.

  • When employees retire from the University, they will receive the incentive payment within 30 days dependent upon the employee completing a Phased Retirement Program-General Release of Claims.

  • Time reduction changes are for the term of the Phased Retirement Program contract and participants cannot further decrease their percent of appointment until the expiration date of the contract.

  • Participants will not be allowed to take other paid work at UC during the program contract period.

  • Participants’ voluntary early termination of the Phased Retirement Program contract(s) will result in forfeiture of all credits.

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