College of Liberal Arts; Information for Faculty Considering Retirement
- Before you make a decision:
- The University of Texas at Austin, Handbook of Operating Procedures 2-2420 - Retirement and Modified Service for Faculty Members
- The University of Texas at Austin, Handbook of Operating Procedures 2-2430 - Emeritus Titles; Perquisites and Privileges of Emeritus Faculty, Emeritus Administrative Officials and Other Retired Faculty
- College of Liberal Arts, Policy on Post-Retirement Employment of Faculty
- Contact the Benefits Section of Human Resoure Services to discuss various issues, including medical, dental, vision, life, accidental death, disability insurance; Medicare; Social Security; other insurance; Premium Sharing; UTFLEX; other paycheck adjustments, etc.
- Contact your Approved Retirement Provider to discuss personal financial implications of all options available to you.
- Contact the Retired Faculty/Staff Association for information, if desired.
- Contact the Social Security Administration for information on their policies and benefits.
- If you wish to be considered for Phased Retirement:
- Discuss the possibility of a Phased Retirement with your chair or director at least one semester prior to the proposed starting date of the contract. Be sure to include discussion of teaching assignments.
- Refer to The University of Texas at Austin, Handbook of Operating Procedures 2-2410 - Phased Retirement For Tenured Faculty; Attachment A, Phased Retirement Contract; Attachment B, Phased Retirement Waiver to become familiar with the terms and options.
- Contact the Office of the Executive Vice President and Provost if you have questions or wish to request a Phased Retirement. They have the contracts and can assist with completing the terms of the document.
- The University’s approval of a Phased Retirement Contract (DOC) can come only after determining that it will result in significant benefit to The University.
- You are advised to contact a lawyer before signing a Phased Retirement Contract, or any retirement-related documents.
- The contract will have specific terms, for a specific period of time not to exceed three years. Any change in the terms after approval would require a written request by you and specific approval by The University.
- Entering into a contract for Phased Retirement includes voluntarily waiving any rights, claims, or causes of action that you may have had through the effective date of the contract under the Age Discrimination in Employment Act of 1967 (ADEA) and its 1990 amendments effected by the Older Workers Benefits Protection Act (OWBPA).
- You have twenty-one days to consider the contract after it is drawn up by the Department & reviewed by the Chairman and the Budget Council or Executive Committee.
- You have seven days after execution of the contract during which you may revoke the contract, in writing. Absent such revocation, the contract shall go into effect on the eighth day following its execution by all parties.
- At the end of the contract, you will have resigned from The University and entered into full retirement.
- If you choose full retirement:
- The decision to retire is made entirely at the discretion of the individual faculty member.
- Refer to Handbook of Operating Procedures 2-2420 - Retirement and Modified Service for Faculty Members
- Notify your chair or director in writing of the effective date of your retirement (unless it has already been specified by the ending date of the Phased Retirement contract)
- Discuss with your chair or director the changes that will occur in such areas as office space, access to staff support, mail/phone call forwarding, process for returning office equipment and University property, etc.
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Last Modified: 26 February 2013