This retirement plan ONLY applies to Unclassified Employees/Regents Mandatory Retirement Plan Members. Participation means a reduction in appointment and salary but retention of current employer-paid benefits. Participation is voluntary and available from one to five years. At the end of the agreed upon participation period (not to exceed five years) the employee is required to retire.
When Eligible: Age 55 with 10 years of full-time service at KSU or another Board of Regents educational institution.
Who Pays: The university continues to pay the employer provided benefits at the employees FTE rate prior to participation in the Phased Retirement Program even though the employee’s salary is reduced.
Policy and Procedures Manual Chapter:
4810 Retirement Plans, Policies and Procedures