UNC Phased Retirement Program For Tenured Faculty
The UNC Phased Retirement Program (PRP) is designed to provide an opportunity for eligible full-time faculty members to make an orderly transition to retirement through half-time service, as reflected in the PRP policy and guidelines. Also, link to other documents below.
Reemployment Earnable Allowance Limits For 2009
The Boards of Trustees of the Retirement Systems increased by 0.1% the amounts of compensation a reemployed beneficiary may earn from an employer participating in the same Retirement System under which the beneficiary is retired, effective January 1, 2009. The authority for the change is provided under retirement law [G.S. 128-24(5)c and G.S. 135-3(8)c].
The increase in the Consumer Price Index for the period from January 1, 2008 to January 1, 2009 was 0.1%. As provided under retirement law, the retirement benefit will be suspended for the remainder of 2009 if such beneficiary’s earnings during the 12-month period immediately following the effective date of retirement or during the calendar year 2009 exceed the greater of (i) 50% of the beneficiary’s compensation during the 12 months of service before retirement, excluding any termination payments, as increased by 0.1% or (ii) $28,080.00.
We also remind you that coverage provided to beneficiaries of the Teachers’ and State Employees’ Retirement System under the retiree group of the State Health Plan will be suspended at the same time a retirement benefit is suspended.