Purpose:

To establish a policy defining “retirement” for members of the State Board Retirement Plan (TIAA-CREF) at Green River Community College.

Scope:

This policy applies to all employees who are participants of the State Board Retirement Plan at Green River Community College and who are eligible to retire.

Policy:

For the purposes of this policy “Retirement” from The State Board Retirement Plan (TIAA-CREF) means a complete separation from Green River Community College. “Separation” includes a break in service (including working as a volunteer) of at least one calendar month, cash-out of compensable sick leave to VEBA, loss of benefit eligibility and a meaningful change in employment status, including the loss (if any) of seniority or hiring preferences.

Employees who “retire” from The State Board Retirement Plan (TIAA-CREF) at Green River Community College must reapply if interested in any future positions with the College. Reapply means completing a college employment application for the position in which they are interested. Hiring departments will follow the appropriate procedure for the employment group of which they are seeking applicants.

Procedure:

The retiring State Board Retirement Plan participant will:

1. Notify Human Resources and immediate supervisor of his/her intent to retire by completing a Green River Community College Termination Form and Exit form.
2. Make an appointment with Human Resources to discuss retiree exit items such as health care, VEBA and other college benefits; and the Payroll Manager to discuss payroll closeout items.
3. Retiring employees will be required to turn in all college property to the appropriate college personnel (as identified on the college exit form), including key cards, keys, tools, and electronic equipment prior to their last day of work (as identified on the Termination form). Information Technology will ensure that all technology access is disabled in a timely manner. Desks and workspace areas are to be cleared of any personal property and vacated by the last day of work.