Post Retirement Service Program for Tenured Faculty : P-160

Policy/Guideline

1. Required Documents
   1. The following documents are required for administering the PRSP:
      1. Post-Retirement Service Program for Tenured Faculty (Exhibit 1)
      2. PRSP Agreement (Exhibit 2)
2. Optional Documents
   1. The following documents may be used by the institutions to facilitate the processing of PRSP agreements from start to finish.
      1. Check List for Processing PRSP Agreements (Exhibit 3)
      2. Request to Participate (Exhibit 4)
      3. Applicant Information (Exhibit 5)
      4. Amendment Form (Exhibit 6)
      5. Notice of Final Approval (Exhibit 7)
      6. Senior Affiliate Faculty Return-to-Service Notification (Exhibit 8)
3. Approval Process
   1. The Check List for Processing PRSP Agreements (Exhibit 3) provides both faculty and departments with a brief summary (i.e., overview) of the steps required to process agreements for this program. Definitive information about the complete process is provided in the following sections.
   2. Faculty contemplating participation in the PRSP are advised to schedule an appointment with the Human Resources Officer/designee to discuss the retirement process, as well as the application process for participation in the PRSP.
   3. During this meeting, faculty will be given a copy of the program, a sample Request to Participate (Exhibit 4), and the agreement/contract form to review. (Exhibit 2)
      1. Faculty who wish to participate in the Post Retirement Service Program must submit the written Request to Participate through the department head and dean, to the Chief Academic Officer or appropriate Vice President of the institution, as applicable.
   4. Upon receipt of the PRSP Request, appropriate staff will begin a review of the institution’s staffing needs, as well as costs and savings associated with the pending notice.
      1. If the institution elects to proceed with the approval process, the faculty member and department head will discuss the retirement date, re-employment date, length of the agreement, and schedule of services to be performed.
4. Renewal/Continuation/Change/Termination Options
   1. The program provides no renewal/continuation options, except as provided in Exhibit 1, Section V. Re-employment Obligation.
      1. Therefore, the decision regarding the desired period of the agreement must be agreed upon by both the institution and faculty member prior to the faculty member’s retirement.
      2. The agreement may be modified to accommodate changes in the work assignments and work schedule if mutually agreed upon in writing by both the institution and participant and made a part of the agreement.
5. Determining Years of Service
   1. For eligibility purposes, please visit the TN Treasury website at http://www.treasury.tn.gov/orp or http://www.treasury.tn.gov/dc/index.html .
6. Converting Semester Hours to Non-Instructional Hours 
   1. While the majority of participants will return solely to teaching positions, some may be assigned non-instructional duties.
   2. Others may have both types of responsibilities. In such instances, it will be necessary to convert semester hours to non-instructional hours. Listed below is the conversion formula:
      1. 1 day                       = 7.5 hours
      2. 120 days                 = 900 non-instructional hours per 12-month period
      3. 18 hours                 = Maximum instructional hours per 12-month period
      4. 1 semester hour     = 50 non-instructional hours (900 hours/18 hours)
7. Calculating Hourly Rates for Non-Instructional Hours for Participants Whose PRSP Assignment Is Academic Instruction
   1. Rates are based on 1462.5 hours (195 days@ 7.5 hours per day).
   2. The institution will compensate only for time actually worked. (i.e. 1/30 of the employee’s fiscal year salary per credit hour or a percentage proration of the employee’s fiscal year salary equaling no more than 50% if working in a fiscal year capacity under the PRSP.)
   3. All salaries will be converted to an academic year salary for purposes of calculating the PRSP.
      1. Special permission is needed for calculating on a fiscal year basis with justification provided.
8. Calculating Fiscal Year Salary Rate
   1. Percentage proration of the fiscal year salary may not equal more than 50% of the employee’s fiscal year salary.
9. Insurance Supplement and Maintenance of Insurance Supplement Records/Data
   1. The amount of the initial insurance supplement is contingent upon the coverage for which the participant is eligible at the time of retirement.
      1. The age of the participant, spouse and/or dependents will significantly affect the plan coverage for which the participant is entitled and, subsequently, the amount of the supplement.
      2. The Human Resources Office will monitor the supplement based on the above factors.
         1. However, it is the participant’s responsibility to inform the Human Resource Office in a timely manner of any other significant changes in status (i.e., marriage, divorce, child no longer qualifies as a dependent, death of spouse and/or dependents, etc.) that would impact plan coverage and/or the amount paid for future insurance supplements.
      3. Changes in the amount of the supplement will become effective with the first payment following receipt of written documentation regarding the change in status.