SUBJECT:  RETIREMENT                

APPLICABILITY:  FACULTY AND STAFF MEMBERS 

1.    Purpose:  

To define policy regarding retirement age and retirement benefits. 

2.    Policy:   

There is no mandatory retirement age for faculty or staff personnel.  A faculty or staff member may retire at any age if he/she is eligible for retirement benefits under his/her retirement program either because of age and service, or because of permanent disability.  (See also Early Retirement of Faculty Members, Classification Number 1.3.15 and Reemployment and Reinstatement, Classification Number 1.3.13.) 

3.   Retirement Benefits: 

3.1 Retirement annuity options and benefits are different for a retiree depending on his/her retirement program, the Teacher Retirement System of Texas (TRS) or the Texas Optional Retirement Program (ORP).  Any employee considering retirement should discuss their plans and options with a staff member from the Benefits section of the University Human Resources Department.  An employee may qualify for retirement annuity benefits from TRS or ORP with as few as five years of retirement creditable service, and an employee with at least ten or more years of retirement creditable service and Uniform Group Insurance Participation may qualify for participation in the Retiree Insurance Program for State of Texas retirees.  Eligibility criteria for retiree insurance is based on Texas state law in place at the time of retirement.  A retiring employee should arrange to meet with a staff member from Benefits for their retirement exit meeting at least two months prior to the retirement date.  A retiring employee completes enrollment forms for the Retiree Insurance Program and other exit documents at this meeting. 

3.2 An employee filing for retirement for purposes of applying to draw annuity benefits through TRS or ORP and/or to enroll in the Uniform Group Insurance Program for Texas State retirees should do so only if the employee's intent is to terminate their regular full-time or part-time benefits-eligible position.  A retiree may later return to work; however, TRS and ORP statutes and provisions apply to the re-employment of a retiree. 

3.3 The Teacher Retirement System of Texas places limits on the TRS-covered employment of a TRS retiree.  Basically, TRS retirees who retired after 12/31/01 cannot exceed more than half-time employment following the onset of receiving a monthly retirement annuity from TRS.  For more details on the limitations, consult the TRS  of Texas booklet or the Benefits section of the University Human Resources Department. 

3.4 University of North Texas retirees who qualify for retirement annuity benefits from either TRS or ORP based on 10 or more years of service at age 55 or over or based on other applicable retirement annuity eligibility criteria are afforded the following University retiree privileges: 

a. A Faculty/Staff Identification Card designated "UNT Retiree". Identification card authorization can be obtained through the University Human Resources Department.  The picture for the ID card is taken in the ID Card Office. 

b.  Use of the library, cafeterias, and recreational facilities. 

c.  Discount rates for liberal arts and cultural events on campus. 

d.  UNT Blood Assurance Program services, free of charge. 

e.  A free full-time parking permit which is good for the fiscal year and allows the retiree to park in any PC, GC, or D lot on campus except dormitory and reserved lots.  A retiree working past the retirement date (i.e. modified service) is not eligible for a free parking permit until fully retired. 

f.  All full-time retired faculty members receive one free season ticket to all UNT Mean Green home football and basketball games each year. 

g. Retirees age 65 or older may audit courses offered by the University of North Texas without charge for tuition and fees, provided space is available and with the consent of the instructor. 

h.  Eligibility for membership in the Denton Area Teachers Credit Union. 

i.   A regular JOVE account may be established at no cost to the retiree.  Premium dial up service is available at the current rate for active faculty and staff.  Availability of premium lines is limited.  Questions concerning this benefit should be directed to the Computing Center. 

j.  Participation in the Faculty and Staff Fitness Program. 

k.  Eligibility for the Employee/Retiree/Dependent Educational Scholarship Program.

REFERENCE:  1987 Amendments to the Age Discrimination in Employment Act of 1967.

                          House Bill 684, 71st Legislature, 1989; TRS in Texas booklet, October 1997.