ERIC Number: ED246743
Record Type: RIE
Publication Date: 1984-Jun
NACUBO Report: Early and Phased Retirement.
Business Officer, p13-16 Jun 1984
Information is provided on early and phased retirement plans of about 20 academic institutions. Eligibility requirements for participation in early retirement plans vary from campus to campus. Most plans have a requirement ranging from a minimum of 10 to 20 years of full-time (or part-time equivalent) service. There are basically two types of application procedures: long-term and short-term. Severance pay is probably the most significant benefit for both the academic institution and the retiree, and is usually the most costly program component. Most of the institutions that were surveyed covered the early retiree's full health insurance cost, including that of spouse and dependents, until the age of normal retirement or death. Annuity plans for faculty members vary widely; six possible options were identified. Other early benefits were also assessed. A table is presented that shows the components of early retirement plans at 10 colleges and universities, including the name and enrollment of the institution, eligibility requirements, annuity provisions, application procedures, severance pay, health insurance, life insurance, and other benefits. Components of phased retirement plans are also briefly outlined. (SW)
Descriptors: College Faculty, Early Retirement, Eligibility, Higher Education, Institutional Characteristics, Insurance, Retirement Benefits, School Surveys, Teacher Retirement
National Association of College and University Business Officers. 1110 Vermont Avenue NW Suite 800, Washington, DC 20005. Tel: 800-462-4916; Tel: 202-861-2500; Fax: 202-861-2583; Web site: http://www.nacubo.org
Publication Type: Journal Articles; Reports - Research
Education Level: N/A
Authoring Institution: National Association of College and University Business Officers, Washington, DC.