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Table of Contents
Statement of Policy
University Executives and Staff in High Policymaking Positions shall retire by the end of the fiscal year in which the age of 65 is attained if (1) the employee has been employed in such capacity for the two year period immediately before retirement; and (2) the employee is entitled to the minimum retirement benefit specified by federal law for persons who hold positions to which mandatory retirements may lawfully apply.
University Executives and Staff in High Policymaking Positions who also hold a tenured faculty appointment in addition to their administrative appointment have the right to return to the faculty upon retirement from administrative office. Upon returning to the faculty, the salary of the faculty member will be adjusted per the Salary of Academic Administrative Officers Returning to the Faculty Policy (IV.5.1).
There is no mandatory retirement age for any other employees of Purdue University. However, the “normal” retirement age of 65 will continue to be used for retirement plan purposes.
Reason for Policy
To explain the University’s policy regarding retirement.
Who Should Know This Policy
- President
- Provost
- Executive Vice President
- Chancellors
- Vice Presidents
- Vice Provosts
- Vice Chancellors
- Deans
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- Directors/Department Heads/Chairs
- Faculty
- Business Office Staff
- Administrative and Professional Staff
- Clerical and Service Staff
- All Employees
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Related Documents
Salary of Academic Administrative Officers Returning to the Faculty Policy (IV.5.1) www.purdue.edu/policies/pages/human_resources/iv_5_1.html
For information concerning retirement benefits, see www.purdue.edu/benefits.
Contacts
Assistant Director of HRS for Staff Benefits, Brent Bowditch
(765) 494-1779
staffbenefits@purdue.edu
Calumet Human Resources Department: (219) 989-2254
Fort Wayne Human Resources Department: (260) 481-6840
North Central Human Resources Department: (219) 785-5354
Definitions
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Definition |
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| University Executives and Staff in High Policymaking Positions |
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President; Provost; Executive Vice President and Treasurer; Vice Provosts; Senior Vice Presidents; Vice Presidents; Chancellors of Purdue University Calumet, Indiana University Purdue University Fort Wayne, and Purdue University North Central; Vice Chancellors; Deans of Academic Schools and Colleges; Dean of Libraries; Directors of the Agricultural Experiment Station, Cooperative Extension Service, and Intercollegiate Athletics; and Executive Director of Discovery Park
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| Minimum retirement benefit specified by federal law |
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An immediate nonforfeitable annual retirement benefit from a pension, profit-sharing, savings, or deferred compensation plan, or any combination of such plans, of Purdue University, which equals in the aggregate the amount set by federal statute,
29 U.S.C. § 630 (currently, at least $44,000.) Only amounts provided by the University and earnings thereon are to be included. Amounts attributable to employee contributions, contributions of prior employers, and rollover contributions must be excluded. |
History
Supersedes: Executive Memoranda Nos. C-14 dated January 6, 1997, and September 18, 1987.
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