Retirement

Transition to Retirement - Tenured Faculty

Agreement template for tenured faculty

A tenured faculty member wishing to transition to full retirement may do so under the following conditions:

• Attains age 59 1/2 or older
• Be a participant in the USNH approved retirement plan for at least 10 years
• Not be participating in a USNH early retirement program
• Not be on long-term disability or worker’s compensation

The faculty member must reduce employment to part-time (not to exceed 50 percent time). The faculty member’s salary base will be pro-rated based on the percent time of employment. Participating faculty will be eligible to continue their USNH group medical and dental coverage at the same contribution rate as a full-time faculty member until full retirement. However, long-term disability, life insurance and contributions to the USNH retirement plan will be based on the pro-rated salary. The University will continue its contribution to medical and dental benefits coverage for up to three years beginning on the effective date of part-time employment.

Faculty members who meet the USNH definition of a retiree, upon retirement, may continue their medical coverage until they are eligible for Medicare based on the retiree’s 65^th birthday.  This coverage is no longer through active employment and covered dependents who are Medicare eligible will be required to enroll in Medicare Part A and Part B. For those with the Medicare Complementary Plan option, additional information will be provided upon request.

The department chairperson, subject to the approval of the appropriate dean, shall make the faculty member’s workload assignments based on the part-time appointment. The faculty member will not be permitted to work for the USNH in a status position more than three (3) years after the effective date of part-time status. During this period of service, the individual agrees that he/she cannot increase the percent time worked. After completion of part-time service, the individual agrees to fully retire. The faculty member may collect his/her retirement income (TIAA, Fidelity) while continuing to be employed in the part-time status position.

Transition to Retirement - Lecturer Faculty

Agreement template for lecturer faculty

As stipulated in Article 18.8 of the Collective Bargaining Agreement between the University System of New Hampshire and the UNH Lecturers United – AAUP, any lecturer faculty member with 10 or more years of status service and who is at least 59 1/2 years of age may apply to the dean for approval to transition to full retirement.

The lecturer faculty member may reduce employment to be between 88-50%, but not less than 50%, and may select a transition period of up three years.

• The salary base will be pro-rated based on the percent time of employment.
• Participating lecturers will be eligible to continue their existing USNH group medical and dental coverage at the same cost sharing arrangement as outlined in 18.2 and USY A.4.3.
• Life insurance, disability insurance, and retirement contributions are based on the reduced appointment salary.
• Tuition benefits for employees will be the same as outlined in 18.6. Tuition benefits for spouses and dependents and paid sick leave are based on the reduced appointment percentage.

The department chairperson, subject to the approval of the appropriate dean, shall make the lecturer faculty member’s workload assignments based on the reduced time appointment. The lecturer faculty member will not be permitted to work for the USNH in a status position more than three (3) years after the effective date of reduced time status associated with the transition to retirement. During this period of service, the individual agrees that he/she cannot increase the percent time worked. After completion of the transition period, the individual agrees to fully retire. The lecturer faculty member may collect his/her retirement income (TIAA, Fidelity) while continuing to be employed in the reduced time status position.