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Phased Retirement Program Guidelines for Departments

Below you will find information for departments about Phased Retirement Program guidelines and action steps to assist faculty entering and exiting this program.

Who's Eligible?

Full-time tenured faculty members with at least five (5) years of NC State University service who participate in the Teachers’ and State Employees’ Retirement System (TSERS) or Optional Retirement Program (ORP) are eligible to apply for PRP participation if they:

  1. are at least age 62 [for TSERS participants] or at least age 59 ½ [for ORP participants] upon entering the Phased Retirement Program; and
  2. are eligible to receive a benefit under the TSERS or ORP plans.

(A break in service is not required prior to entering PRP because the ages listed above meet “normal retirement age” requirements for the purposes of this program.)

Additional eligibility details can be found within Regulation 05.57.01, Phased Retirement Program for Tenured Faculty.

 

When Is Notification Sent Out?

Notification for participation in the Phased Retirement Program is sent via email during the month of August for the start of the next academic year. For example, notification for the 2014-2017 PRP will be communicated in September 2013.

Announcement Notification for NC State's Phased Retirement Program

How Do I Apply ?

The faculty member formally applies to the PRP by submitting an unsigned UNC Phased Retirement Program Application and Re-Employment Agreement (the "Agreement") directly to the department head. Details about the application process are explained in the Phased Retirement Program Department Guidelines.

 

Next Steps

Once a faculty member is approved for Phased Retirement, the department will be notified.  Phased Retirement always begins on July 1 each year. Click on the following document for HR System instructions:

Department HR System Actions for phased retirement (PDF)