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Early Retirement

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  1. POLICY

    This policy provides early retirement to full-time, regular college employees who qualify under specified terms and conditions. The college reviews the early retirement plan annually to monitor its effectiveness and fiscal implications; however, no change will reduce benefits to any participant who has already retired under this provision unless the participant is reemployed on a full-time, regular basis with the college president's approval.

  2. REFERENCES
    1. Duties and Responsibilities of the President of an Institution of Higher Education -- Approval by Board of Trustees, Utah Code Ann. § 53H-3-303(4)(a)(v).
  3. DEFINITIONS

    See Personnel Definitions .

  4. PROCEDURES
    1. General
      1. The college offers an early retirement plan to qualified employees upon approval by the college president after consultation with the executive cabinet, the associate vice president (“AVP”) of People and Workplace Culture (“PWC”), and the AVP of the Budget Office.
      2. The early retirement plan is intended to maintain or decrease total college personnel costs.
      3. The college must approve or deny early retirement applications based on the legitimate business needs, continuity, and strategic priorities of the college.
      4. The college may only reemploy or reinstate employees approved for early retirement to full-time, regular status upon the college president’s approval. If the employee resumes full-time, regular status, the college will stop the early retirement benefits and resume the employee’s regular benefits and retirement premiums.
      5. In the event of an early retiree’s death, the college will end all early retiree benefits at the end of the month after the date of the early retiree’s death. If an early retiree dies on the last day of a month, then the early retiree benefits will cease at the end of the following month.
      6. The president, after consultation with the board of trustees, may open a temporary window to offer a cash incentive, also known as an early retirement buyout, for qualified employees to facilitate their retirement and recover institution budgetary funds. The president must approve exceptions to this procedure.
    2. Eligibility
      1. Eligible employees must:
        1. be full-time, regular employees who are currently employed 75 percent FTE or more of a fiscal year;
        2. have worked at least 15 years of full-time, regular service at the college or related Utah System of Higher Education (“USHE”) service; part-time hourly service will not be credited;
        3. be at least 57 years old.
      2. Application
        1. To apply for early retirement, eligible employees must submit an early retirement agreement application to PWC at least 45 calendar days before their retirement date.
        2. PWC will facilitate the retirement application process with applicants, calculate monthly benefits with the Budget Office, and obtain the appropriate application signatures.
    3. Benefits
      1. The college provides 100% of the employer and employee cost up to two-party coverage for the Focal Point or Value Care Traditional or HDHP group medical and dental insurance programs.
      2. Employees retiring each year after July 1 who may be on a different plan will select either the Focal Point or Value Care Traditional or HDHP plan during the subsequent Open Enrollment period. The college discontinues benefits at the end of the month in which the early retiree turns 65 or when the college has extended the benefit for seven years.
      3. The college will pay early retirees any accrued annual leave to the maximum allowed by college policy at the time of retirement.

Last Revised: June 10, 2026

Last Approved: June 10, 2026

The originator of this policy is People & Workplace Culture. Questions regarding this policy may be directed to the originator by calling 801-957-4210.