The Phased Retirement Program permits eligible unclassified employees to reduce their workload in preparation for full retirement from Pittsburg State University. When approved for the program, the employee's appointment with the University is reduced and their "full-time" salary is also proportionately reduced. The employee receives employer-paid benefits based on their full-time salary.
Eligibility for Phased Retirement
Any unclassified employee in a benefits-eligible position who has completed at least ten (10) years of full-time service and who is a member of the Regents Mandatory Retirement Plan shall be eligible to participate in the Phased Retirement Program upon reaching 55 years of age.
Faculty members requesting participation in the Phased Retirement Program shall submit a letter to their chair. Other unclassified employees shall submit the letter to their supervisor. If entry into the agreement is in the best interest of PSU, the chair or supervisor shall forward the agreement through normal channels to the President for approval.
Length of Participation
The maximum length of a phased retirement agreement shall be five (5) years. At the end of the agreement, the participating employee shall immediately retire.
Phased Retirement Agreement
Each phased retirement agreement shall specify the following:
The agreement shall also contain the signature of both parties.
Benefits under the Program
While participating in the program, the employee receives the following benefits until the end of the agreement or full retirement, whichever occurs first:
The employee is also eligible to participate in other voluntary benefit programs (i.e. Flexible Benefits Program, Voluntary Tax Sheltered Annuity Program, etc.) available to unclassified employees in benefits-eligible positions.
Phased Retirement Agreement Form