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FAQs: Faculty Transition to Retirement Program

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PDF icon FTTRP-FAQ-final-October2015.pdf95.37 KB

 

Questions and Answers
about the Faculty Transition to Retirement Program

Now that the Faculty Transition to Retirement Program (FTTRP) is approved, what are the next steps?

  • The state will finalize its regulations and the AAUP-AFT will work with the Rutgers administration on the application documents. The initial application period should be in the spring of 2016 for an effective date of July 1, 2016.

 

Why do I have to relinquish my tenure?

  • You are formally retiring, will be granted emeritus status and will then be re-employed on a part-time basis at fifty percent status.

 

Will I have to relinquish my tenure prior to having my application for the FTTRP approved?

  • No. You relinquish your tenure only after you have an approved application under the FTTRP. This should be clear in the agreement you sign with your dean.

 

What are the terms of the FTTRP?

  • The basic terms are 50% pay for 50% work for up to three years. The specific work assignment should be agreed upon by you and your dean. The AAUP-AFT is available to consult with you, at your request.

 

What happens to my health benefits and my Alternate Benefit Program (ABP) retirement account?

  • As a retiree you will need to take an initial disbursement from your ABP account and request retiree health benefits through the state of New Jersey (for those with 25 years of service). University Human Resources can assist you with all the paperwork. Contact UHR at (848) 932-3020.

 

What will I pay for my retiree health?

  • For those with 25 years of service or more, you should see a significant reduction in your health care costs as a retiree. Some will see no costs for retiree health insurance based on the state’s terms in place when you reached 25 years. University Human Resources should be able to assist you in calculating your contributions, if any. Contact UHR at (848) 932-3020.

 

Will I continue to accrue retirement contributions into my ABP account during the FTTRP period?

  • No, there will be no new contributions into your ABP account and you must take a disbursement prior to the initiation of your FTTRP agreement.

 

If I am retiring, must I use the FTTRP?

  • No. The FTTRP is only one option for those faculty who wish to retire. Some faculty will prefer to retire fully. Others will want to look at other possibilities and incentives, perhaps involving accrued time towards a sabbatical or assignment immediately prior to retirement to alternative duties. Again, the AAUP-AFT is available to consult with you.

 

 

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