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University of north carolina phased retirement program general - hrs appstate

University of north carolina phased retirement program general - hrs appstate 2025

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The document is a General Release associated with the University of North Carolina's Phased Retirement Program, wherein an employee releases the university and related parties from any claims related to their employment and resignation. It outlines the entities released, matters covered by the release, exceptions for certain claims, and the employee's rights regarding consultation and revocation of the release. The document emphasizes that it is executed voluntarily and includes provisions for legal compliance under relevant employment laws.

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What is the optional retirement program of the University of North Carolina?

Under the ORP, you control your investments choices, distribution methods and retirement goals, whereas the State controls the investments under TSERS. The ORP is a defined contribution plan. The University has authorized TIAA as the vendor to offer investment products under the ORP.

What is a disadvantage of phased retirement?

Reduced income: One of the apparent disadvantages of phased retirement is the reduction in income. As work hours decrease, so does salary.

What is a phased retirement OPM?

Employees participating in phased retirement will be paid for the part-time service they continue to provide the government and will receive additional credit for that service toward their full retirement.

What does phased post retirement mean?

Phased Retirement: a gradual transition from full-time to part-time employment and then full retirement. A Second Career: when retirees change their jobs, or open a new business to pursue a dream. Full Retirement: when people retire from work for good.

What is phase out retirement?

Overview. Phased Retirement is a human resources tool that allows full-time employees to work part-time schedules while beginning to draw retirement benefits.

What is phased retirement OPM?

Phased retirement allows active federal employees to retire from part of their job responsibilities, while continuing to execute other job functions such as mentoring and knowledge-transfer to employees moving into senior positions.

What is an example of phased retirement?

Phased retirement may include a pre-retirement, gradual reduction in hours (or days) of work, then post-retirement, part-time work for pensioners who wish to remain employed. Part-time, seasonal, and temporary work or job-sharing are all work arrangements that can be a form of phased retirement.

What is the phased retirement program at UNC?

Through the University of North Carolina Phased Retirement Program, eligible full-time tenured faculty members transition to retirement through half-time (or equivalent) service. The program is voluntary and is entered into by a written agreement between an eligible faculty member and the institution.

University of north carolina phased retirement program general - hrs appstate 2025

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