The University of Iowa

Phased Retirement Program

Deans, Directors, and Department Executive Officers
Barry Butler, Executive Vice President and Provost and Cheryl Reardon, Chief Human Resources Officer and Associate Vice President
October 20, 2016
Phased Retirement Program

The current phased retirement program for faculty and staff will expire on June 30, 2017 (by action of the Board of Regents in 2011).  The Board has yet to take action to renew the phased retirement program, and it is anticipated that the earliest a decision would be made is December of this year.

We have been informed by the Board office that any applications made under the current program must be effective and begin no later than June 30, 2017.  Thus, the University is unable to accept any applications to become effective after that date unless the Board takes action to continue a phased retirement program (and the plan may not be identical to the one currently in place).

Specific to eligible academic year faculty who may consider applying for the phased retirement program, it will not be possible for faculty to start phased retirement under the current program in August of 2017.

There are currently two options available to faculty who may be eligible for the phased retirement program and plan to seek enrollment in the program.  The first option is to wait until the Board makes a decision on the continuation of the phased retirement program.  However, continuation of the program is not a certainty, and specific aspects of the program could be modified if it is renewed.

The second option is for a faculty member to initiate a phased retirement program prior to July 1, 2017.  For faculty with an academic-year appointment, a phased program can only be implemented at the start of either the spring or fall semester.  Thus, the only viable start date for the phased program under the current BOR plan would be at the beginning of the Spring 2017 semester (January 2017), and approvals would need to be obtained at departmental, collegiate and provost levels well before that date.   Faculty with fiscal-year appointments would have the ability to start the current phased retirement program at any point prior to July 1, 2017 (with appropriate approvals).