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Important considerations for faculty considering phased retirement

Entering into a contract for Phased Retirement includes voluntarily waiving any rights, claims, or causes of action that may have been held through the effective date of the contract under the Age Discrimination in Employment Act of 1967 (ADEA) and its 1990 amendments effected by the Older Workers Benefits Protection Act (OWBPA).

The retiring faculty member has 21 days to consider the contract after it is drawn up by their department and reviewed by the Department Chair and the Budget Council or Executive Committee.

The retiring faculty member has seven days after execution of the contract during which they may revoke the contract, in writing. Absent such revocation, the contract will go into effect on the eighth day following its execution by all parties.

At the end of the contract, the faculty member will have resigned from the University and entered into full retirement.

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Process

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Before beginning a Phased Retirement Agreement, the faculty member should confirm with UT Austin Benefits that they will be eligible to retire as of their planned date. Their department's Academic HR Partner should check with the faculty member to see that retirement eligibility has been confirmed, but responsibility for confirming eligibility is up to the prospective retiree.

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Temporary disruption to email

Due to required integrations with various benefits systems, Phased Retirees are unable to access their email account for 24-28 hours after their regular faculty appointment ends. The phased retiree appointment will be finalized upon completion of the benefits integration.

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Processes

A. Submitting a request for a Phased Retirement Agreement

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