Quick Contact

Juli Greger
Director of Human Resources

Franklin Templeton Building
Eckerd College
4200 54th Avenue South
St. Petersburg, FL 33711

Send a message

toll-free: (800) 456-9009
phone: (727) 864-8316
fax: (727) 864-7559 

Human Resources

Human Resources

Policies and Procedures

Retirement - Faculty Only

Phased Retirement Option

Eligibility

Eckerd will offer a Phased Retirement Option for certain faculty members. The Program is available to those faculty members, including librarians, who have completed 15 years of full time service at Eckerd College and attain an age of 60 before the start of the school year they enter the Deferred Compensation Program-Phased Retirement Option.

Participants

Participants in the Program will offer three to four courses, or course equivalents, per year, determined by consultation with the Dean of Faculty and the discipline and structured in a way that meets the needs of the department and institution. The teaching commitments might vary from year to year during a faculty member's participation in the Phased Retirement Program. For example, a three course (or course equivalent) load might be all in one term to compensate for a hexennial replacement, or might be spread as 1-1-1 or 2-0-1 or 1-0-2. A four course (or course equivalent) load might be structured 2-0-2, 1-1-2, 3-1-0 or any variation. The teaching assignment might be discipline based, in the GE program or in PEL.

Other-duties

Normal expectations for pro-rata help with departmental mentoring will be negotiated between the faculty member participating in the Phased Retirement Option and the discipline, with the approval of the Dean. Phased Retirement Option participants will not participate in the official governance structure of the college via specific committee appointments or voting privileges in faculty meetings but will be eligible by invitation for various ad hoc efforts.

Duration of Participation

The Phased Retirement Program will be an option for a period not to exceed five years and ending regardless of the start date after the school year in which the participant reaches age 70.

Compensation During the Period of Participation

The College will pay a pro rate share of the faculty member's salary (3/7 for the person teaching three courses or course equivalents per year, 4/7 for the person teaching 4 courses or course equivalents per year). Payment will be made over a 12 month period.

The College will pay for health insurance as per full time employees up to age 65 at the same coverage level the participant had as a full time employee (age of Medicare eligibility).

The College will continue to pay 100% of its contribution to the Phased Retirement Option participant's College approved annuity program, based on the pre-Phased Retirement Option annual income, until the participant reaches age 65 or death, whichever occurs first. For participants over age 65, the College will pay a contribution to a College approved annuity based on the actual annual compensation of a participant.

The College shall continue to pay its portion of the of the premium cost for the individual's group life insurance up to age 70. The amount of coverage shall be equivalent to the individual's base salary used for calculating the Phased Retirement Option salary. However, at age 65, the face amount of life insurance coverage shall be reduced by 1/3.

The Phased Retirement Option participant will be eligible for annual increases on the phase compensation as per other continuing part time equivalent faculty.

Notice of Eligibility and Selection

The appropriate College official shall notify each faculty member of their eligibility to participate in this Program not later than 180 days prior to the date the faculty member satisfies the eligibility requirement. An eligible faculty member desiring to participate in this Program shall notify the Dean of Faculty by October 1 prior to the year in which his/her participation will begin.

Other Terms and Conditions

Facilities

Library and secretarial services normally accorded faculty in connection with their teaching services will be available to Phased Retirement Option participants. Office space will be available on the same terms as continuing part time faculty.

Tenure

Faculty will relinquish tenure on entering the Program, whether through the Phased Retirement Option or directly into the Deferred Compensation Program.

Irrevocability

Faculty decisions to enter Phased Retirement Option will be voluntary and binding. Faculty who participate in the Phased Retirement Option will not have the option of returning to the faculty on a full time basis, just as this is not an option for faculty entering the traditional Deferred Compensation Program.

Hexennials, Faculty Development and Annual Reviews

Faculty who participate in the Phased Retirement Option will not be eligible for hexennial leaves. Phased Retirement Option participants will be able to participate in faculty development funds on the same terms as continuing part time faculty. Phased Retirement Option participants will be subject to the same performance evaluation as is used for continuing part time faculty.

Unpaid Leaves

Faculty who participate in Phased Retirement Option will be eligible for unpaid leave with the approval of the Dean of Faculty.

Librarians

The 4/7th equivalency for librarians participating in the Phased Retirement Option is 800 hours over the normal 10 months of their contract year. This reflects 4/7 of hours currently worked less current paid holidays (1612.5 hrs*.5714 minus 16 paid holidays).

Agreement

The nature of the Phased Retirement Option agreement between the participant and the college will be spelled out in a written memorandum.

Retiring Faculty with Emerita/Emeritus Status

The Board of Trustees may designate retiring faculty for emerita/emeritus status who have:

(1) held faculty status at Eckerd College for at least five (5) years immediately prior to retirement;

(2) made significant contribution to the education of Eckerd students and to the College community;

(3) been held in high regard by their professional peers; and

(4) been recommended for emerita/emeritus status by the President based on the recommendation of the Vice President and Dean of Faculty and the Academic Standards Committee.