SECTION:                  Faculty Retirement

SUBJECT:                 Benefits and Privileges of Retired Faculty

EFFECTIVE DATE:   July 1, 1994 (Published December 22, 1995)

PAGE(S):                   3


      This policy establishes the benefits and privileges of retired faculty including:

      -     Eligibility of retiring faculty members to receive the Emeritus title and certificate, and

            the benefits associated with such recognition.

      -     The specific benefits administered by the Office of Human Resources, which are

            annuity, health, and life insurance.

      -     Educational benefits available to retired faculty members and their dependents.

      -     Memberships in which retired faculty members may continue participation.

      -     Other services, including ID Cards and parking.


                                                     EMERITUS RECOGNITION

      By action of the Board of Trustees, upon recommendation of the academic unit, tenured

      Professors or Associate Professors who retire receive the Emeritus title and certificate.

      Faculty who receive Emeritus rank in a given year are honored at that year's Honors

      Convocation, and their names are listed in a special Emeritus category in the Honors

      Convocation program.

      The University Senate has established a provision to allow an Emeritus faculty member to:

      -     Continue as a Senate member for any year for which the faculty member requests

            continuation of membership.

      -     As a member, to continue to vote at Senate meetings.

      -     Stand for election as a member of a Senate Standing Committee, Senate Council,

             Faculty Assembly; or as a Senate officer.

      Emeritus faculty members continue to be listed in their respective school bulletins.

                                        ANNUITY, MEDICAL, AND LIFE INSURANCE

      Annuity and Other Options of Cashability and Transferability

      Payments normally begin upon official retirement.  The amount of monthly or other

      payments depends on:

      -     The premiums that the individual and the University have placed into the retirement

            account during the employment period, including the past and projected earnings

            from the accumulated premiums.

      -     The amount of the lump sum payment elected by the retiree in accordance with the

            terms of the annuity contract.

      -     The particular payout option elected by the individual faculty member for the

             retirement period.

      Teachers Insurance Annuity Association (TIAA), the College Retirement Equities Fund

      (CREF), and The Vanguard Group of Investment Companies are the annuity companies

      the University has chosen.

      Medical Insurance

      Medical insurance benefits in effect during active employment may be continued after

      retirement until age 65 years.

      -     The University contribution continues as usual, and the retiree is billed for the

            equivalent of the usual payroll deduction.

      A retiree of age 65 years or more is enrolled automatically at no cost to him in a Major

      Medical Group for Retirees.

      Life Insurance

      Life insurance in the amount of $15,000 is provided at no cost to retirees with 10 or more

      years of service.

      -     For those with less than 10 years of service, the University provides a prorated

            portion of the $15,000.  (An alternative to the above applies to longer-service

            employees who elected to remain in the plan in effect prior to May 1, 1977.)

      At retirement, the difference between the above amount and the amount of insurance held

      as an active employee can be converted to an individual life insurance policy at the then

      attained age, provided application is made directly to the carrier within 31 days of

      retirement.  Options exist without medical evidence of insurability, although it is suggested

      that the retiree participate in a physical examination for purposes of establishing the

      premium and fee arrangements.

                                                            EDUCATIONAL BENEFITS

      The terms of these scholarships are the same as those listed in Policy 02-07-02, Effect

      of Separation on Eligibility for Faculty Scholarship Benefits.


      Committee Memberships

      Each academic unit decides whether a retired faculty member may be invited to serve on


      A chairman of a doctoral committee may be asked to retain the chairmanship if the

      student is close to completion of the dissertation by the time the chairman retires.

      Faculty members are not expected to retain the chairmanship of doctoral committees for

      students who are near the beginning of their work, or to take on new committee


      University Senate

      An Emeritus faculty member is eligible to continue full membership in the University

      Senate, upon request each year to the Clerk of the Senate.

      Women's Association

      Retired women faculty and wives of retired male faculty are invited to remain active in the

      Women's Association.

                                                   ID CARDS AND OTHER SERVICES

      ID Cards

      Retired faculty are eligible to receive a Faculty ID Card.  See Policy 07-10-01, University

      Identification Cards.


      The dean, department chair, or campus president, in consultation with the Parking

      Office, will determine the availability of space for a retired faculty member.

      Courtesy parking information is available through the department or the Parking Office

      for occasional or irregular visits to campus.


      Policy 02-07-01, Employee/Spouse/Dependent Scholarships for Faculty

      Policy 02-07-02, Effect of Separation on Eligibility for Faculty Scholarship Benefits

      Policy 07-10-01, University Identification Cards