Prefix Policy #10
Steward Board of Trustees
Full Text of the Policy
A. Retirement is complete separation from the college at age 62 which is the earliest age specified for retirement by Federal Social Security Law or later and is governed by Washington State Law RCW 28B.10.400 et seq. and TESC Policy and Procedures VI. A-15.
B. Reemployment is employment of a faculty member after s/he has actually retired or taken a pre-retirement separation from the institution.
C. Pre-retirement separation means a voluntary separation from employment at the college after reaching age 55 but before age 62.
A. Must have been employed as a faculty member 50% of fulltime (at least 2 consecutive quarters of each academic year in a position comparable to that of a faculty member teaching in an 8 to 12 quarter hour program) or more at the institution for 10 or more years prior to entering the program.
B. Must be at least age 55. Those participants who are 70 years of age or more must comply with TESC Policies and Procedures, VI. A-15 (7) Extension of Service.
C. Must be in good standing. Must not be on a terminal year contract or working on an extension year.
D. Must be retiring from the institution or be in preretirement status.
III. Terms and Conditions
A. Participation in the program is voluntary.
B. In accord with Washington State law, if a faculty member's reemployment under this policy is approved by the Vice President for Academic Affairs:
1. For TIAA/CREF participants, salary earned pursuant to this policy shall have no effect on the calculation of retirement benefits.
2. For TIAA/CREF participants, if this option occurs before the age of 62, the college cannot guarantee a 24 per creditable-year retirement income-goal as defined in TESC Policies and Procedures VI. A-15.
3. If a TIAA/CREF participant retires and is eligible to begin receiving supplemental retirement benefits and subsequently becomes reemployed under this policy, then such supplemental benefits shall cease while the individual is reemployed 40% or more of full-time.
4. For Teachers Retirement System participants, reemployment of more than 75 days per school year will result in suspension of pension payments per RCW 41.32.570.
C. Participants in the Retired Faculty Reemployment Program shall not be eligible to be returned to the status of regular faculty.
D. Participants understand and agree that the contract that results in approval for entry into this program cancels and supersedes any other contractual agreements with the institution including contract and tenure rights, if any.
E. The salary for reemployed faculty will be calculated depending on the nature of the assignment and on the level of participation in college activities. The salary will be pro-rated using the established salary scale for full-time faculty. Salary for administrative tasks in addition to those normally associated with teaching will be negotiated.
F. To continue in the program, participants must be physically/mentally prepared and able to teach. The faculty member may be asked to demonstrate through a medical review that they are physically and mentally able to teach.
A. Normally applications for the plans are due no later than November 1st for implementation at the beginning of the second following academic year. Decisions will be made by January 1st so that the deans will have as long as 18 months in which to fill vacant faculty positions.
B. When possible, per the professional leave policy, sabbatical leave opportunities will be moved up in time for faculty who want to apply for early retirement or pre-retirement separation. However, faculty who do take sabbatical leave must agree to return to the institution upon completion of the leave to serve a period equal to the amount of leave prior to retirement. (RCW 28B.10.650.)
V. Explanation of Benefits Available
A. Health, dental, life, and disability insurance coverage.
1. The college will pay the insurance contribution, equal to the normal employee contribution, for quarters worked for any faculty member who is reemployed at least half-time (in a position comparable to that of a faculty member teaching in an 8 to 12 quarter-hour program) for 2 consecutive quarters. This is the case regardless of whether the faculty has simply reduced their work from 3 quarters a year down to two, or has retired and then is reemployed.
B. Retirement plan contribution and service credit.
1. If the faculty member has retired or is in pre-* retirement separation status and is reemployed:
a) Contributions will be made consistent with the eligibility requirements included in the retirement policy as outlined in the Policies and Procedures Manual VI. A. 15.
b) No service credit will be given for the time worked.
c) Contributions will continue to social security based on the amount of salary earned.
2. If the faculty member retires or enters preretirement separation status before the age of 62, the college cannot guarantee a 2% per creditable-year retirement income-goal as defined in TESC Policies and Procedures VI. A-15.
TEACHERS RETIREMENT SYSTEM Participants
1. If the faculty member has retired or is in preretirement separation status and is reemployed:
a) Contributions to TRS will be made if the faculty member is reemployed in a position comparable to that of a faculty member teaching at least an 8 quarter-hour program for 2 consecutive quarters.