Procedure No. 8.1

Area: Human Resources

Adopted: 02/27/18

FACULTY TRANSITION TO RETIREMENT PROGRAM ELIGIBILITY:

The FTTRP is available only to faculty members who meet the following minimum requirements:

Must be a full-time tenured faculty member at Atlantic Cape Community College.
Must be a member of the Alternate Benefit Program (“ABP”).
Must be at least 55 years of age on June 30 of the year in which the application is made.
Must have at least 10 years of service at Atlantic Cape Community College on June 30 of the year in which the application is made. For purposes of this criterion, service for both full semesters of the academic year shall constitute one year of service.

FACULTY TRANSITION TO RETIREMENT PROGRAM APPLICATION AND ELECTION PERIOD:

The annual FTTRP election period shall be the period between the date in the spring semester on which distribution to eligible faculty of FTTRP documents is made and the date on which completed applications are due in the President’s office. Eligible faculty members wishing to participate in the FTTRP must file the Application and Election Form provided by the college during this period. Forms must be received by the President’s office on or before 4:30 pm on April 1 of the year in which the application is made.

EFFECTIVE DATE OF TENURE RELINQUISHMENT:
The effective date of tenure relinquishment shall be July 1 of the academic year following the faculty member's approved application. Faculty members shall also promptly submit an Application for Retirement Allowance and applicable health benefits forms through the Human Resources office by contacting the Director of Human Resources.

TENURE RELINQUISHMENT AND RELEASE:

1. Notice that the faculty member is officially retiring from the College effective July 1 of the academic year following the faculty member's application;
2. An agreement that the faculty member relinquishes tenure effective on the effective date of the faculty member's retirement; and
3. A general release.

TERM OF RE-EMPLOYMENT CONTRACTS: Eligible faculty members who elect and are approved to participate in the FTTRP will announce their retirement and then enter into a re-employment contract of up to one year at the workload and compensation specified below.

WORKLOAD AND COMPENSATION: The terms of re-employment will not exceed 50 percent of a full-time faculty load, as approved by Atlantic Cape Community College. Compensation shall be proportional with the re-employment assignment approved by Atlantic Cape Community College, not to exceed 50 percent of the faculty member’s final year’s academic base. As retirees, participating faculty have no claims of tenure or other rights and/or obligations of a tenured member of the faculty.

Supplements:

Transition to Retirement Eligibility-Application and Election Form No. 8.2

See Also:

Board of Trustee Policy-No. 9

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