July 1, 2007 - As part of a broader work-life initiative approved in April 2007, opportunities for phased retirement are now available to UK staff (similar to phased retirement options already available to faculty).

Highlights of the requirements for the phased retirement benefit for staff include:

• Employees must have at least 15 years of regular full-time service (consecutive service if hired after July 1, 1997)
• Employee must be age 60 or older
• Employees will work a 50% or greater workload (0.5 FTE, Full-Time Equivalent)
• Employees will retain full-time status for benefits
• Retirement contributions will be based on the actual prorated base salary paid
• Accumulated retirement funds may be accessed during phased retirement
• Phased retirement is available for a maximum of 5 years
• Phased retirement is not a right or entitlement; it must be requested by the employee and approved by the department up through the appropriate executive vice president or Provost

Click here for a step-by-step overview of the staff phased retirement process, including agreement forms for phased retirement participants and departments.