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What is my eligibility for benefits contributions, retirement contributions and leave accruals if I participate in the Program?
Subject:Full Tenure Relinquishment Program
Benefits Contributions: You will continue to be eligible for the University’s contribution toward your health insurance if you meet PEBB eligibility requirements, which presently include working at 0.50 FTE during the month. Employees on academic wage appointments of 1039 hours will be required to work less than .50 FTE in one month of the calendar year in order to stay within 1039 hours. During any month in which you work less than .50 FTE, you will not receive a contribution from the University for your health insurance. You may, however, purchase COBRA coverage for that month and continue to maintain your health insurance coverage.
Retirement Contributions: You may or may not have retirement contributions made on your behalf by the University during your period of employment under the Full Tenure Relinquishment Program. Eligibility for contributions is based on your FTE level, individual retirement plan provisions, and your receipt of retirement benefit payments.
You are responsible for knowing and adhering to the terms of your retirement plan, including without limitation those terms that may apply to your acceptance of a post-retirement position with the University. For example, PERS participants are subject to a limitation on the total number of hours they may work for any PERS employer and still remain eligible to receive retirement benefits. It is very important that you understand and monitor your own compliance with your retirement program provisions or eligibility for retirement program benefits.
Vacation and Sick Leave Accrual: As a 12-month academic wage appointee, you will receive vacation leave accrual if you meet the 0.50 FTE eligibility threshold, at the rate of 15 hours per month, pro-rated based on your employment FTE. You are not eligible to receive terminal vacation payout upon termination from your academic wage appointment.
You will receive sick leave accrual at the rate of 8 hours per month, pro-rated based on your employment FTE. Sick live is not payable upon termination.