157.93 Retirement Options
|Created by: Stephanie Ferguson on 6/18/1999|
|Category: 1 - Academic Affairs; 50 - Faculty Status|
|Originator: Academic Administration|
|Current File: 157.93|
|Adoption Date: 5/12/2008|
|Reviewed for Currency: 5/12/2008|
|Date of Origin: 6/18/1999|
|In Archive? No|
Furman University desires to offer options for tenured faculty members in their retirement planning.
Any faculty member who qualifies for early retirement under the terms established in Policy 157.91 may voluntarily select a specific retirement option. Possible options include phased retirement or early full retirement. These options are made available at the discretion of the administration and are not considered a fringe benefit or an entitlement.
1. The retirement options offered to qualifying faculty members include:
2. Provost and Dean may make exceptions to the plans when it is in the best interest of Furman University.
3. Provost may deny a faculty member one or both of the above options when it is in the best interest of Furman University.
4. The University may offer additional options for a specific period of time when it is in the best interest of Furman University.
5. The protections of tenure continue until full retirement.
6. Agreements for a specific retirement option must be made at least eighteen (18) months in advance of the effective date. Implementation of the option is contingent upon execution of a waiver to provide appropriate planning time (normally one  year) and to allow for the 180-day waiting period after the agreement is signed as required by law on file in the office of the Provost.