The University Phased Retirement Program is an optional tool that locations may choose to provide eligible policy covered staff the opportunity to transition into retirement by reducing their appointment percentages over a period from 120 days to up to three years. The program is part of the University's cost savings and succession planning strategies. For employees represented by unions, eligibility for the program is subject to collective bargaining.
Prior to entering into the Phased Retirement Program, participants sign a contract that delineates the terms of the program. Participation in the program is subject to approval by the respective Supervisor, Department Head, and Vice Chancellor prior to the start of the program.
As of the approved enrollment date in the program (starting January 1, 2015 and ending December 31, 2019), a participant must be:
- age 55 or older,
- an active member of the University of California Retirement Plan with at least five years of service credit,
- working in a career appointment at 60 percent time or greater, and
- not a member of the Senior Management Group.