Planning to Retire in the Next 4 Years? Declare by November 1

To Teaching Professionals and Instructors planning to retire in the next 4 years:

Please make your declaration to your chair, dean and provost by November 1, 2015. This is not your irrevocable declaration of retirement. If after 4 years you decide to stay with the university, you may. But this declaration will insure that for the next 4 years you are paid at 90%, rather than 75%, of your base monthly salary when you teach in the summer.

See the contract language below and please let me know if you have any questions.

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21.10 Summer Session Salaries for Teaching Professionals and Instructors
Summer session assignments shall be compensated on the basis of 75% of the Teaching Professional’s monthly salary rate (base full-time annual salary divided by nine months). A Teaching Professional shall receive one month’s adjusted salary for an assignment of three credit units, two months adjusted salary for an assignment of six credit units, and three months adjusted salary for an assignment of nine credit units. Assignments in excess of nine credit units shall be paid at the overload rate specified below. The summer session assignments for faculty who have declared their last four years before retirement as specified in 23.08.C.7 in this Agreement, shall be compensated at 90% of the Teaching Professional’s monthly salary rate (base full-time annual salary divided by nine months). This declaration must be made in writing by November 1 to the Department Chair, the Dean, and the Provost/Vice President for Academic Affairs. This declaration can be made only once and cannot be cancelled once started. Summer session assignments for a Teaching Professional who has exhausted the four years of 90% compensation shall be returned to 75% of the Teaching Professional’s monthly salary rate for any other summer session assignments.