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Policy Statement

In order to be categorized as a retiree of Marywood University and be eligible for certain benefits as such, an individual must meet the following conditions at the time of termination of employment:

former full-time administrator, faculty or staff member;
worked full time at Marywood University five or more full consecutive years;
attained the age of 62 or older;
is not working for any other employer.

Retirees may convert their group term life insurance to an individual policy.

Those who retire from administrative or staff positions will receive pay at current salary for the number of days over 100 in their short-term disability bank or excess account up to a maximum of 50 days.

In recognition of their years of service, retirees are provided tickets to attend University-sponsored activities.  They are also entitled to 100% tuition reduction.  In addition, retirees with more than ten years of service receive lifetime membership in the Recreation Association.  They are entitled to library privileges.

Procedures

Notification of retirement is made by the employee to the immediate supervisor and to the Assistant Vice President for Human Resources at least two months in advance.

In order to provide a smooth transition to retirement, an exit interview should be scheduled with the Assistant Vice President for Human Resources as soon as possible.


Related Policies



History

07/01/91 - Reaffirmed with publication of the Personnel Manual
03/22/00 - Sentence relating to age of retirement deleted at Executive Committee meeting of the University Committee on Policy
01/27/06 - Cyclical review approved