Implementing Transitions - Phased Retirement Program

Agreements

It must be demonstrated in a cover letter that the use of the Transitions Program, which is not available to the faculty and continuous academic professional staff in general, is in the best interest of the University, that is, keeping with specific programmatic goals or other special circumstances. Any arrangement must be in writing and signed by the faculty member or academic professional; the unit administrator, dean, or senior administrator; and the Office of the Vice President, Human Resources before the terms become binding. An agreement may be changed only by mutual consent of all parties. Any amendment to the original agreement must comply with the policy, and must be in writing, must be signed by the parties, and is not effective until signed by the senior administrator (or designee) and the Office of the Vice President for Human Resources.

Termination of Appointment

Termination from the University employment becomes effective on the Last Day of Employment. The Last Day of Employment must be mutually agreed upon by the faculty member or the academic professional; the unit administrator, dean, or senior administrator; and the Office of the Vice President for Human Resources. All Transitions Program Agreements are for two year terms.

Release Statement

The individual must sign two releases in the Transitions Program: a special release statement on the Last Day of Regular Appointment and a second release on the Last Day of Employment. Both releases must be forwarded to Employee Benefits. Release statement signed prior to these dates will not be accepted. Receipt of benefits under the program is conditioned upon the execution of the releases, as described in the Transition Program Agreement.

Departmental Procedures

1. Notify the tenured faculty member or continuous academic professional of the right to consult legal counsel.
2. Certify the employee's eligibility for the program.
3. Complete the department's section of the Transitions Program Agreement. Ensure that the EFS budget number is provided on the agreement and that the unit administrator signs both sides of the agreement.
4. Photocopy the agreement and forward the original for the appropriate signatures: dean, provost, chancellor, and/or vice president.
5. Send the signed original agreement and the Initial Release to the Office of Human Resources for approval by the Vice President for Human Resources.
6. After the college receives a fully-executed copy of the agreement, complete initial payroll data entry in PeopleSoft according to the instructions included in the business process for Ending an Appointment for Employee Receiving a Severance Package.
7. At the end of the Transitions Program term, complete the final steps as instructed in the business process for Ending an Appointment for Employee Receiving a Severance Package.
   • Have the employee sign the Subsequent Release and Benefit Election forms as of the Last Day of Employment and forward them to Employee Benefits.
   • If vacation needs to be paid out, send vacation balance verification to Employee Benefits.

Employee Benefits Procedures

Enter the Action/Reason on the Job Data panel in PeopleSoft and take the full charge for the cost of the Health Care Savings Plan contribution as of the Last Day of Employment against the budget account provided on the Phased Retirement Agreement. Ensure that the HCSP contribution is remitted to the Minnesota State Retirement System on behalf of the faculty member or continuous academic professional.

Employee Procedures

1. Complete the employee portion of the Transitions Program Agreement and submit to department.
2. Turn in the Transitions Program Agreement and the signed Initial Release form to the department.
3. Sign the Subsequent Release and Benefit Election forms on the Last Day of Employment and forward to Employee Benefits.