Agenda Item No. V. A. 1.

Washburn University Board of Regents



SUBJECT: Voluntary Phased Retirement



DESCRIPTION:



At its November 8, 2000 meeting, the Board of Regents approved the renewal of the voluntary phased retirement plan originally approved on February 18, 1998. Under this plan, employees meeting applicable criteria could apply for, and receive if deemed in the best interests of the University, voluntary phased retirement from the University. Under the program approved, the successful applicant would receive a reduced workload for the term of the agreement, but continue receiving employee benefits as though she or he were a full-time employee of the University. The program at Washburn University is similar to that of the state educational institutions.



Dr. Betty J. Cole, an Associate Professor in the Department of Biology in the College of Arts and Sciences, has requested a phased retirement program for the academic years 2004-05 and 2005-06, effective August 1, 2004. Dr. Cole will teach half-time for both academic years.



Dr. Thomas M. Wolf, a Professor in the Department of Biology in the College of Arts and Sciences, has requested a phased retirement program for the academic years 2004-05 and 2005-06, effective August 1, 2004. Dr. Wolf will teach full time in the spring semester only for both academic years, for an annual half-time appointment.



Dr. Ron Evans, a Professor in the Department of Psychology in the College of Arts and Sciences, has requested a phased retirement program for the academic years 2005-06, 2006-07, 2007-08, effective August 1, 2005. Dr. Evans will teach half-time for all three academic years.



Phased retirement allows us to continue to provide the excellent instruction provided by these three senior faculty while also providing the means to make smooth departmental transitions to new faculty.



FINANCIAL IMPLICATIONS:



A full-time faculty member will be hired to replace the load reduction from Dr. Cole and Dr. Wolf. The savings over the two-year phased retirement, net of the new replacement position, at about $25,000.



Since Dr. Evans' phased retirement does not begin until Fall 2005, a decision regarding replacement is being deferred. This reduction to a half-time load saves the University about $100,000 over the three year phased retirement period. Some of this savings may be used to replace Dr. Evans load reduction during this phased retirement.



RECOMMENDATION:



President Farley recommends that the Board of Regents approve these voluntary phased retirement requests.





___________________ ___________________________

(date) Jerry B. Farley, President


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