Faculty Early Retirement Program (FERP) Summary

 

ELIGIBILITY

  • Eligible tenured faculty unit employees who have reached their retirement formula age (age 55, 60 or 62 depending on your date of hire) may participate in a Faculty Early Retirement Program (FERP).
  • Must have been granted Service Retirement effective on or before the first day of the academic year in which participation in FERP is to begin
  • Written notification to President at least six (6) months prior to the academic year in which FERP participation begins (about March 1st)

LENGTH OF PARTICIPATION

Maximum of five (5) years

TIMEBASE OPTIONS

  • 50% -- Teaching full-time one (1) semester each academic year
  • 50% -- Teaching half-time both semesters each academic year
 

Note:  Librarians in 12-month appointments may remain in a 12-month appointment for FERP.  The period of employment for librarians during each campus academic year is determined by the Dean and approved by the Provost and specified in an appointment letter to the participant.  The period of employment may be full-time for a duration not to exceed fifty percent of the librarian’s work year in the year immediately preceding retirement, or fifty percent of the librarian’s regular time base in the year immediately preceding retirement. In either case, the period of FERP employment shall not exceed the CalPERS limit of 960 hours.

A FERP participant who was in the Pre-Retirement Reduction in Timebase (PRTB) program prior to retirement and who elects the FERP employment option of fifty (50) percent of the regular timebase in the year preceding retirement, would be limited to fifty (50) percent of the PRTB timebase.

TIMEBASE REDUCTION

Article 29.12:   A participant may request that the time base of the FERP appointment be reduced.  The President shall determine if such a request shall be granted.  Such a reduction in time base shall continue for the duration of FERP appointment. 

LEAVES FROM FERP

Faculty may be granted one partial or full leave without pay from FERP for reasons of personal illness only.  Such leaves must be approved by the Department Chair, College Dean, and the Provost and Vice President for Academic Affairs.

Note:  This leave will not extend your participation in FERP by another semester or year.

DENTAL BENEFITS

  • In order to continue enhanced dental and vision benefits you must maintain a timebase of half-time or more both semesters, or full-time (1.0) one semester.  FERP employees whose schedule differs from the above may lose eligibility if their timebase falls below half-time.  Contact the HR Benefits Office at 86213 for continuation of coverage options.

SICK LEAVE

  • Can carry over up to 48 hours of sick leave credits into FERP
  • Can accrue sick leave credits while in FERP up to a maximum of 160 hours
  • Accrual rate is 8 hours of sick leave credit per qualifying pay period if full-time (maximum of 48 hours per year).  If less than full time, sick leave accrual will be prorated.

SALARY        

For each year of participation, you receive your full retirement allowance from the Public Employees Retirement System (PERS) plus one of the following at the current salary rate for your range at the time of retirement:

ADDITIONAL EMPLOYMENT                  

  • The Collective Bargaining Agreement between CSU and CFA, Unit 3-Faculty and CalPERS regulations (GC 21227), limits your total employment within the CSU/CalPERS system (including FERP) to 90 days per fiscal year, 50% of the timebase in which the member was employed during the last fiscal year of service prior to retirement, OR a total of 960 hours for all CalPERS employers whichever is less.
  • You may not teach for additional pay during any summer session.
  • Generally, you may not accept any additional employment in the CSU while in FERP.  
  • It will be necessary for you to complete a modified version of the checkout process through the HR Payroll Services Office in Del Norte Hall, Room 3006A, 278-6211.  This will include turning in your I.D. card and visiting the Benefits Office.
  • The Collective Bargaining Agreement between CSU and CFA, Unit 3-Faculty, limits your total employment within the CSU system (including FERP) to 90 days per fiscal year OR 50% of your timebase in the year preceding retirement, whichever is less.
  • You may not teach for additional pay during any summer session.
  • Generally, you may not accept any additional employment in the CSU while in FERP. 
  • It will be necessary for you to complete a modified version of the checkout process through the HR Payroll Services Office in Del Norte Hall, Room 3006A, 278-6211.  This will include turning in your I.D. card and visiting the Benefits Office and the Payroll Services Office.