Phased retirement provides eligible employees the ability "to make an orderly transition to retirement through part-time service." In lay terms, phased retirement is a way to retire gradually.
Below you will find basic information on Phased Retirement and more detailed information for faculty, staff and departments.
Am I eligible for phased retirement, and how will it affect my benefits?
This is the most common question we get asked about Phased Retirement. Administrative Regulation (AR) 3:2 contains details on eligibility and impact on benefits. Click here for AR 3:2.
If you have reviewed AR 3:2 and still have questions about your eligibility for Phased Retirement please contact one of your UK Retirement Officers in Benefits. Call 257-9519, option 3 and ask for a Retirement Officer or email retirement@uky.edu.
Phased retirement forms
Phased retirement procedure
The following steps should be copmletd after an employee has verified their eligibility for phased retirement.
- The employee completes the first page of the Phased Retirement Agreement and sends the form to a UK Retirement Officer.
- A UK Retirement Officer signs the first page of the Phased Retirement Agreement, verifying eligibility, and sends the form back to employee and appropriate department administrator.
- The employee signs page two of the Phased Retirement Agreement and obtains required signatures.
- The appropriate Educational Unit Administrator and Chair, Dean or Director should approve the agreement and forward to the Provost’s office or Executive Vice President for approval.
- The employee, or department administrator, returns the form to a UK Retirement Officer after the first three signatures on page two have been obtained.
- A UK Retirement Officer will coordinate the signature for the Vice President of Human Resources and then send a copy of the agreement to the department administrator and employee.
- Department administrator will enter the Phased Retirement Action in SAP.
Department resources
Please click here for instructions to enter the Phased Retirement Action is SAP.