Resignation and retirement
Resignation
Twelve-month represented faculty and academic staff are eligible for a vacation bank payout at time of resignation, per the following terms (AAUP-AFT Article XII.M).
Upon resignation of a twelve-month appointment a member of the bargaining unit holding tenure or employment security status will be paid for unused vacation days up to a maximum of twenty-three (23) days. A 12-month non-tenured bargaining-unit member will be paid for the unused vacation days up to a maximum of twenty-three (23) days or for the remaining days in their term appointment, whichever is less. Before transfer from a twelve (12)-month to a nine (9)-month appointment, a bargaining-unit member shall utilize the vacation days in their vacation bank prior to the transfer date. Upon special circumstances the President or their designee may authorize payment for vacation days that would otherwise be lost.
Retirement
Faculty and academic staff seeking a traditional retirement should review human resources retirement webpages.
Tenured faculty and academic staff holding employment security status maybe eligible for voluntary early retirement programs. Those who have attained the age of sixty (60) as of September 1 of the academic year during which they wish to enroll in the program, and have provided at least five (5) years of full-time service (or its equivalent) to the university are eligible to participate in the following retirement options (AAUP-AFT Article XII.K).
Academic staff early retirement program
Academic staff with five (5) to nineteen (19) years of full-time service to the University shall receive a payment of ten thousand dollars ($10,000) per annum for a three (3)-year period. Academic staff with twenty (20) or more years of full-time service to the University shall receive a payment of sixteen thousand dollars ($16,000) per annum for a period of three (3) years.
Faculty phased retirement program
Faculty bargaining-unit members may elect to reduce, on an irrevocable basis, their workload to fifty percent (50%) for a period of up to three (3) years, following upon which they will retire from the University.
Program enrollment
Tenured faculty and academic staff holding employment security status must submit a irrevocable declaration of intent to participate in the early or phased retirement program to their dean/director and to human resources prior to March 1 of the year in which they plan to begin their retirement. The retirement must go into effect no later than August 17 of that year.