Phased Retirement Program Extended

The University of California is renewing its Phased Retirement Program, which offers eligible career staff members the opportunity to transition into retirement by voluntarily reducing work hours by at least 10 percent a year for up to three years before retiring.

The Phased Retirement Program is part of the UC’s cost-savings and succession-planning strategies, and will be in effect from Jan. 1, 2015, through Dec. 31, 2019.

The Phased Retirement Program is an optional tool that departments can choose to implement. Employees eligible to participate in the program include:

• Policy-covered staff members aged 55 or older

• Active members of the University of California Retirement Plan with at least five years of service credit

• Those who work in a career appointment at 60 percent time or greater

• People who are not members of the senior management group 

For represented employees, participation in the Phased Retirement Program is subject to collective bargaining.

More information about the Phased Retirement Program is posted online, including frequently asked questions.