Voluntary Early Retirement
4.400 VOLUNTARY EARLY RETIREMENT (Prior to Age 65)
Employees may present a written request for early retirement if they meet the following two requirements. They must be a minimum of sixty years of age and must have completed at least fifteen consecutive years of employment.
Employees who elect early retirement may continue to be covered under the group health plan until they reach age 65. If the retired employee has a dependent(s) on the health and/or dental plan, the retiree is expected to pay the monthly premiums for that dependent(s) coverage at the rates currently in effect with the plan.
For future open enrollment periods, those who have taken early retirement are subject to the same terms and conditions as active employees. For example, if -in a given year-active employees of the College must pay a portion of the health and/or dental premium, then early retirees will be subject to the same expense.