IU Phased Retirement Program Application & Agreement 2025

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The document outlines the Indiana University Phased Retirement Program, which allows eligible faculty members aged 62 and older to reduce their workload by 20-50% for a period of 12-36 months while retaining certain benefits. Participants must agree to retire from the university at the end of this period and cannot be employed by affiliated entities during it. The document includes sections for faculty member information, signatures for acceptance, and departmental approvals.

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Click ‘Get Form’ to open the IU Phased Retirement Program Application & Agreement in the editor.
Begin by filling out Section 1, Faculty Member Information. Enter your full name, University 10-Digit ID, date of birth, years of service at IU, department, campus, and specify your phased retirement period start date.
Indicate your proposed work schedule by selecting either a fixed percentage of Full-Time Equivalent (FTE) or a variable schedule. If you choose variable, provide a brief explanation in the designated area.
Proceed to Section 2 and sign to confirm your acceptance of the program's provisions. Ensure you also enter the date next to your signature.
In Section 3, gather necessary departmental signatures from the Chair of Department, Dean of School, and Campus Faculty Affairs. Each must print their name, sign, and date the form.
Once completed, submit the form to IU Human Resources at the specified address for processing at least 60 days before your phased retirement period begins.

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Versions	Form popularity	Fillable & printable
2021	4.8 Satisfied (85 Votes)
2019	4.3 Satisfied (52 Votes)

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How does phased retirement work?

In order to participate, an employee must have been employed on a full-time basis for the previous 3 years. Under CSRS, the employee must be eligible for immediate retirement with at least 30 years of service at age 55, or with 20 years of service at age 60.

What is a phased retirement program?

The IU Retirement Plan is a section 403(b) defined contribution retirement plan. If you were hired after June 30, 1999, Indiana University contributes 9% of your budgeted base salary (excluding supplemental pay). This plan is fully funded by IUemployee contributions are not required or allowed.

Is phased retirement a good option?

Phased retirement can offer a smoother transition for both employer and employee, allowing workers to stay employed, typically on a part-time or flexible schedule, while adapting to their new lifestyle.

What is the IU phased retirement program?

Phased retirement offers a flexible path for faculty. Phased retirement is a valuable option for faculty who want to reduce their workload and ease into retirement. The benefits of phased retirement include: The ability to withdraw from specific retirement account funds while still working.