The Ball State University Phased Retirement Program is designed to give professional and staff employees an opportunity for pre-retirement reduction of full-time service while phasing into retirement over a period not to exceed three years.
Interested professional or staff personnel may submit a request to participate in the Phased Retirement Program at any time. Professional and staff should apply with as much advance notice as practical.
On December 17, 2021, the phased retirement was closed to faculty members for the indefinite future.
- Full-time professional and staff employees who will reach official University retiree status within three years.
- Eligible for Emeritus/ Emerita status (continuing contract professional personnel), Honoratus/Honorata status or Retirement status (contract professional and staff personnel) by no later than the applicant's agreed upon retirement date under the Program.
- Must hold a position that can reasonably be performed on a less than full-time basis without materially altering the expectations and responsibilities inherent in the position, without adversely affecting the employee's area or program, and without significantly increasing costs to the employee's area or program.
- A full-time position is a 100% full time equivalent (FTE). Participants in this program are able to reduce their FTE to between 50% and 75% .
- Benefits continue as if employed full-time.
- Base salary will include an incentive in consideration of the reduced contributions to the retirement plan resulting from participation in the Phased Retirement Program. See the Policy on Phased Retirement for Professional Personnel, and Staff Personnel (PDF) for further information.
- If participants are age 59 1/2 or older they may access their Alternate Pension Plan, TRF DC Account or PERF DC Account while still employed.
- Phased Retirement Program incentive calculators based on retirement plan participation:
- Review the Policy on Phased Retirement for Professional Personnel, and Staff Personnel (PDF) and consult with department/ administrative unit head or supervisor.
- Complete the Phased Retirement Program Request to Participate
- If approved, the request will proceed through the appropriate levels of approval and forwarded to Employee Benefits for processing.
- Employee Benefits will send the Phased Retirement Program contract and other documentation to the Vice President for Business Affairs and Treasurer for approval and then on to the faculty, professional, or staff member for acceptance and signature.
- Return signed Phased Retirement Program contract to Employee Benefits.
- Applicant will receive confirmation from Human Resources of Phased Retirement Program adjusted base salary.