Faculty and Unclassified Staff Handbook
Chapter 5 -- Faculty: Leaves, Insurance, and Retirement Benefits
Retirement
Faculty members on a nine-month contract should plan their retirement to coincide with the end of an academic year or summer session. Members of the faculty or staff who are on twelve-month appointment should plan their retirements to coincide with the end of the fiscal year. A faculty or staff member, however, may request retirement at any time after their 55th birthday provided they have 10 or more years of Regents service.
Basic Retirement Program
There is a one-year waiting period for participation in the University's basic retirement plan. Participation in an acceptable retirement plan at another "institution of higher education" for one year within the last five years may be substituted for the waiting period.
Employee must be appointed to a budgeted position of .5 (half-time) or more to be eligible to participate.
Personal contribution is 5.5 percent--matched by University with 8.5 percent. How the 14 percent total contribution is distributed within the retirement program, is the employee's decision.
Two (2) companies are available for participation; however, the employee is limited to participation with one (1) company at a time. The employee may change companies once each calendar year. The company names are: 1) TIAA and 2) Voya Financial.
Voluntary tax-sheltered options are available. Employees may participate in the voluntary tax-sheltered annuity program (without state contribution) whether or not they are eligible for the mandatory plan; there is no waiting period.
KPERS provides for the University-purchased term life insurance, optional group life insurance, and long-term disability insurance. There are also service-connected death benefits available if death occurs in the line of duty.
Phased Retirement
Phased Retirement Program Regents Institutions
1. The Regents phased retirement program (hereinafter "the program") shall be open to all full-time, benefits-eligible unclassified employees of FHSU who are participating in the Kansas Board of Regents Mandatory Retirement Plan and who have attained age 55 and completed 10 years of full-time service.
2. The maximum length of a phased retirement agreement shall be 5 years.
3. An appointment under a phased retirement agreement must be at least .25, but no more than .75.
4. Upon the culmination of the phased retirement agreement, the participating employee shall immediately retire.
5. Employees having retired upon completion of a phased retirement agreement shall not be precluded from post-retirement term appointments with a Regents institution.
6. Execution of a phased retirement agreement will not prevent an employee from retiring before the scheduled end of the agreement.
7. Funding for the program will come from the existing salary base.
8. Regulations of the Board of Regents shall be used and followed relative to operation and implementation of the program.
9. The maximum number of participants in any fiscal year cannot exceed 2 percent of an institution's unclassified FTE.
10. Phased retirement agreements must be mutually agreed upon by the employee and the appropriate institutional officer, within the limits of eligibility and limitations specified above. The reviewing officer must indicate that the agreement is in the best interest of the institution.
11. Participants in the program may partially annuitize their Regents mandatory retirement plan.
12. Participation in the program will not be counted against the institution's FTE limits.
K.S.A. 76-746 and K.A.R. 88-12, 1-8.
Kansas Board of Regents: Policies and Procedures Manual (12-01-95).
Phased Retirement Applications, Criteria for Evaluation of
Pursuant to the Memorandum of Agreement (MOA) between Fort Hays State University's Chapter of the American Association of University Professors (FHSU-AAUP) and Fort Hays State University/Kansas Board of Regents (FHSU), the following are decisional criteria to be used by FHSU in evaluating phased retirement applications pursuant to Article XVII (B)(3).
1. Number of phased retirement slots available.
Per Kansas Law and applicable rules, policies and regulations, the maximum number of participants in phased retirement in any fiscal year cannot exceed 2% of FHSU's unclassified FTE.
2. The estimated impact on a faculty member's department of full retirement relative to a grant of phased retirement.
The needs of a department regarding the usefulness of a transition period for a retiring senior faculty member and the mentoring of a less experienced replacement faculty member will be considered. An evaluation of this factor may take into consideration the special expertise and experience of the retiring faculty member.
3. Previous or pending grants of phased retirement within the same department or unit.
4. Any simultaneous or competing request for phased retirement.
5. The need to preserve any phased retirement slots for future requests.
Given the limited number of slots available in any fiscal year, anticipated upcoming retirements or phased retirement applications may be taken into consideration in evaluation current applications.
6. The intent of the phased retirement applicant with regard to the timeline for fulfilling the phased retirement agreement.
Preference will be given to applicants who express a firm interest in completing the timeline requested in the application. Applicant will specify preferred time, location and method for duties to be performed.
7. Special duties or projects within the University for which applicant may be qualified or willing to perform if item 2, above, is not especial applicable.
8. The recommendation of any previous reviewer or committee will be taken into consideration by the subsequent reviewer or committee.
No such recommendation is binding upon the University President who has the ultimate authority with regard to phased retirement applications pursuant to Kansas law, Regents' policies and regulations, FHSU's policies, and the MOA.
9. Alignment with select goals and key performances indicators found within the university's strategic plan, FHSU's Kansas Regents Performance Agreement or Academic Quality Improvement Program priorities.
10. Any other consideration relevant to the University's mission, keeping in mind the purpose of phased retirement as set forth above.
Approved by Provost's Council (09/07).
Criteria revised to align with current MOA (08/12).
Limited Retirement Health Care Bridge
The Limited Retirement Health Care Bridge Program provides a mechanism through which the University may assist unclassified employees who desire to retire before they become eligible to qualify for Medicare by contributing to the cost of the employee’s health care coverage
(1) Eligibility
(a) Participation in the Limited Retirement Health Care Bridge Program is a privilege, not a right, and is voluntary for both the employee and the University. The University and employee must all agree that it is in the best interest of both the university and the employee to participate in the program. This decision shall be made on a case-by-case basis taking the employee’s appointment or job responsibilities, the timing of the request and other pertinent factors into consideration.
(b) Faculty and unclassified staff who are eligible for retirement with a minimum of ten years of full-time service and who have attained age 55 years of age will be eligible for participation in the program.
(c) Participants in the Phased Retirement Program or any other State of Kansas retirement incentive program are not eligible to participate in the Limited Retirement Health Care Bridge Program.
(d) If an eligible employee’s request to participate in the Limited Retirement Health Care Bridge Program is approved by the university chief executive officer or the chief executive officer’s designee, the university attorney shall draft an agreement between the university and the employee.
(2) Participation
(a) An employee who wants to participate in the Limited Retirement Health Care Bridge Program must submit a written request to retire and to participate in this program to the employee’s manager.
(b) The program provides for payment of both the employee and employer medical and dental insurance premiums for a negotiable length of time up to the date the employee becomes eligible for Medicare, but no longer than three years. The premiums will be paid directly to the State Employee Health Plan Retiree/Direct Bill program.
Approved by Vice President of Administration and Finance (07-01-19).