Policy Number: 4.420
SCOPE
All full-time employees of the College.
DEFINITIONS
The following definition of retirement is adopted for use with various situations at National Park College, such as purchase of health insurance by retired employees, repurchase of unused sick leave from retired employees, etc.
A retired employee is a person who has left College employment under the following conditions and shall be entitled to full retirement benefits including the repurchase of sick leave:
- Retired under the provisions of the National Park College Early Retirement Plan
- or -
- Is at least 55 years old and has been employed by National Park College for at least 10 years of service recognized by National Park College and/or the State system. Even if there are recognized years of employment from other state agencies, at least five years of the employment must be by National Park College.
A retired employee is a person who has left College employment under the following condition and shall be entitled to limited retirement benefits, not to include the repurchase of sick leave:
- Is at least 60 years old, and has at least 5 years of service recognized by the State system.
OTHER PROVISIONS
Early Retirement Incentive. Periodically the College may offer a special incentive in the interest of providing salary savings and other advantages for the College. Details will be provided at the time of offering.
Health Insurance. Retirees may purchase coverage, if desired, under the provisions of the College health insurance program, providing the insurance company allows this transition.
Life Insurance. Retirees may purchase coverage, if desired, under the provisions of the College life insurance plans, providing the insurance company allows this transition.
Persons retiring under this plan will continue to receive campus store discounts, tuition waivers, library access, and may attend College functions under the same terms as a full-time College employees.
AUTHORITY
The President, the President's Cabinet and Human Resources, as directed by the Board of Trustees.
RESPONSIBILITY
It is the responsibility of the Human Resources Department to provide retirement information to employees upon request. Determination of eligibility will be made by the Director of Human Resources and must be approved by the President. Ratification will be made by the Board of Trustees.