Phased Retirement Program

October 1, 2009

Dear Colleague:

I am writing to inform you of a new retirement option recently approved by the Alamo Colleges Board of Trustees called the Phased Retirement Program that is being made available to full-time employees who are eligible for retirement.

Eligibility – This voluntary program is available to faculty, staff and administrators who are participating in the TRS (Teachers Retirement System) or ORP (Optional Retirement Program) retirement plan and who are eligible to retire because they meet the requirements for normal age retirement (age of 65 plus five years of service), or the Rule of 80 (a combination of age and employment service years totaling 80).

Overview – The Phased Retirement Program provides an opportunity for qualified employees to move gradually into retirement while phasing out of full time employment. If you are qualified, this approach to retirement can provide an opportunity to make a smoother personal, professional and financial transition over an extended period of time, from full-time employment, to part-time employment and finally into retirement.

Employees who decide to participate in the program will have an opportunity to work up to 49 percent of full-time at their pre-retirement pay rate, and to work in their pre-retirement occupation and at their pre-retirement department or work location. Staff and administrators may work up to one year preceding their full retirement; faculty may work up to three years.
Of course, participants will need to observe the provisions of their respective ERP, TRS and/or ORP plans. Other requirements include enrolling in the program before your retirement date, declaring an intention to retire no later than April 30, 2010, remaining separated for one full calendar-month before returning to work, and retiring between October 1, 2009 and May 30, 2010.

The Employee Services staff is available to provide further information and help arrange post-retirement work assignments for employees who wish to participate. Interested employees and faculty can contact their respective benefits coordinators for further information:

- Jose Fernando Espinoza 485-0215 jespinoza30@alamo.edu (if your last name starts with A-Ga)

- Debra Brandon 485-0228 dbrandon2@alamo.edu (if your last names starts with Gb-O)

- Idalia Velazquez 485-0226 mvelazquez@alamo.edu (if your last name starts with P-Z)

For questions regarding specific retirement benefits, employees should contact their ERS, TRS or OPR retirement advisor.

A plan outline is available on the Employee Services web-site http://www.alamo.edu/district/es/ and a schedule of information sessions is being prepared for each campus.

Sincerely,
Linda Boyer-Owens
Associate Vice Chancellor of Employee Services