UNIVERSITY OF PITTSBURGH PROCEDURE 02-08-01

CATEGORY:              ACADEMIC AFFAIRS

SECTION:                  Faculty Retirement

SUBJECT:                  Preparation for Retirement

EFFECTIVE DATE:   February 10, 1989

PAGE(S):                    2

I.    PURPOSE

      To establish the steps to be taken by faculty members in preparation for retirement.

II.   SCOPE

      This procedure applies to faculty members at least 62 years of age.  Limited exceptions

      may be made by the Provost or Senior Vice President for the Health Sciences in

      consultation with the Office of Human Resources to grant official retirement at an age

      earlier than 62 years, depending upon length of service to the University and other

      circumstances.

III.  PROCEDURE

      Faculty Member                          1.   Elect to retire at any age beginning at age 62.

                                                                a.   An Early Retirement Incentive Plan (ERIP) is

                                                                      available to tenured faculty members who wish

                                                                      to retire between the ages of 62 and 69, providing

                                                                      they have had a least ten years of service prior to

                                                                      the age of retirement.  For details about the plan,

                                                                      faculty members should consult the Office of the

                                                                      Provost.

                                                          2.   To request exceptions to paragraph 1 above, contact

                                                                the Office of the Provost.  See Policy 02-08-01,

                                                                Preparation for Retirement.

                                                          3.   Contact the University Benefits Section of Human

                                                                Resources at least three months prior to anticipated

                                                                retirement date.

                                                                a.   Any agreement to grant retirement at an age

                                                                      earlier than 62 years must be documented in

                                                                      writing prior to the time the faculty member

                                                                      contacts Human Resources.

      Human Resources                     4.   Schedule an appointment to discuss with the faculty

                                                                member the various benefits available upon

                                                                retirement.

                                                          5.   Arrange group seminars or workshops each year to

                                                                explain some of the fringe benefits that are

                                                                automatically available or can be elected by faculty

                                                                members upon retirement.

IV.  REFERENCES

      Policy 02-08-01, Preparation for Retirement

      Policy 02-08-02, Benefits and Privileges of Retired Faculty