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Fort Hays State University
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Email: provost@fhsu.edu

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Faculty and Unclassified Staff Handbook
Chapter 5 -- Faculty: Leaves, Insurance, and Retirement Benefits


Retirement

Faculty members on a nine-month contract should plan their retirement to coincide with the end of an academic year or summer session. Members of the faculty or staff who are on twelve-month appointment should plan their retirements to coincide with the end of the fiscal year. A faculty or staff member, however, may request retirement at any time after their 55th birthday provided they have 10 or more years of Regents service.

Basic Retirement Program

There is a one-year waiting period for participation in the University's basic retirement plan. Participation in an acceptable retirement plan at another "institution of higher education" for one year within the last five years may be substituted for the waiting period.

Employee must be appointed to a budgeted position of .5 (half-time) or more to be eligible to participate.

Personal contribution is 5.5 percent--matched by University with 8.5 percent. How the 14 percent total contribution is distributed within the retirement program, is the employee's decision.

Two (2) companies are available for participation; however, the employee is limited to participation with one (1) company at a time. The employee may change companies once each calendar year. The company names are: 1) TIAA-CREF and 2) Voya Financial.

Voluntary tax-sheltered options are available from the same company elected for the basic retirement program or 6 other life insurance companies licensed to sell in the state of Kansas.

Employees may participate in the voluntary tax-sheltered annuity program (without state contribution) whether or not they are eligible for the mandatory plan; there is no waiting period.

All University employees who are not primarily engaged as teachers participate in the KPERS. Employees hired after July 1, 2009, become eligible for membership immediately. For those eligible, participation is compulsory, and premium payments are by deduction from the payroll check. Under this system, members hired prior to July 1, 2009, contribute four percent of their gross wages. Members hired after July 1, 2009, contribute six percent. The University matches this and contributes sufficient additional funds to cover the employer liability under the act and group insurance programs.

KPERS, in addition to retirement benefits, provides for the University-purchased term life insurance, optional group life insurance, and long-term disability insurance. There are also service-connected death benefits available if death occurs in the line of duty.

Phased Retirement

Phased Retirement Program Regents Institutions

1. The Regents phased retirement program (hereinafter "the program") shall be open to all full-time, benefits-eligible unclassified employees of FHSU who are participating in the Kansas Board of Regents Mandatory Retirement Plan and who have attained age 55 and completed 10 years of full-time service.

2. The maximum length of a phased retirement agreement shall be 5 years.

3. An appointment under a phased retirement agreement must be at least .25, but no more than .75.

4. Upon the culmination of the phased retirement agreement, the participating employee shall immediately retire.

5. Employees having retired upon completion of a phased retirement agreement shall not be precluded from post-retirement term appointments with a Regents institution.

6. Execution of a phased retirement agreement will not prevent an employee from retiring before the scheduled end of the agreement.

7. Funding for the program will come from the existing salary base.

8. Regulations of the Board of Regents shall be used and followed relative to operation and implementation of the program.

9. The maximum number of participants in any fiscal year cannot exceed 2 percent of an institution's unclassified FTE.

10. Phased retirement agreements must be mutually agreed upon by the employee and the appropriate institutional officer, within the limits of eligibility and limitations specified above. The reviewing officer must indicate that the agreement is in the best interest of the institution.

11. Participants in the program may partially annuitize their Regents mandatory retirement plan.

12. Participation in the program will not be counted against the institution's FTE limits.

K.S.A. 76-746 and K.A.R. 88-12, 1-8.

Kansas Board of Regents: Policies and Procedures Manual (12-01-95).

Phased Retirement Applications, Criteria for Evaluation of

Pursuant to the Memorandum of Agreement (MOA) between Fort Hays State University's Chapter of the American Association of University Professors (FHSU-AAUP) and Fort Hays State University/Kansas Board of Regents (FHSU), the following are decisional criteria to be used by FHSU in evaluating phased retirement applications pursuant to Article XVII (B)(3).

1. Number of phased retirement slots available.
Per Kansas Law and applicable rules, policies and regulations, the maximum number of participants in phased retirement in any fiscal year cannot exceed 2% of FHSU's unclassified FTE.

2. The estimated impact on a faculty member's department of full retirement relative to a grant of phased retirement.
The needs of a department regarding the usefulness of a transition period for a retiring senior faculty member and the mentoring of a less experienced replacement faculty member will be considered. An evaluation of this factor may take into consideration the special expertise and experience of the retiring faculty member.

3. Previous or pending grants of phased retirement within the same department or unit.

4. Any simultaneous or competing request for phased retirement.

5. The need to preserve any phased retirement slots for future requests.
Given the limited number of slots available in any fiscal year, anticipated upcoming retirements or phased retirement applications may be taken into consideration in evaluation current applications.

6. The intent of the phased retirement applicant with regard to the timeline for fulfilling the phased retirement agreement.
Preference will be given to applicants who express a firm interest in completing the timeline requested in the application. Applicant will specify preferred time, location and method for duties to be performed.

7. Special duties or projects within the University for which applicant may be qualified or willing to perform if item 2, above, is not especial applicable.

8. The recommendation of any previous reviewer or committee will be taken into consideration by the subsequent reviewer or committee.
No such recommendation is binding upon the University President who has the ultimate authority with regard to phased retirement applications pursuant to Kansas law, Regents' policies and regulations, FHSU's policies, and the MOA.

9. Alignment with select goals and key performances indicators found within the university's strategic plan, FHSU's Kansas Regents Performance Agreement or Academic Quality Improvement Program priorities.

10. Any other consideration relevant to the University's mission, keeping in mind the purpose of phased retirement as set forth above.

Approved by Provost's Council (09/07).
Criteria revised to align with current MOA (08/12).

Limited Retirement Health Care Bridge

Contact the Human Resource Office for information regarding health care bridge options.

 

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