Any staff member is eligible for retirement at the age of 59 ½ years (coinciding with IRS and retirement plan guidelines for eligibility for normal retirement pension), if he or she has ten (10) years of consecutive service immediately prior to the retirement. The college does not have an early retirement program.
The retiring individual is expected to be present at work his or her last day, and vacation or other leave time cannot be used to extend the termination date for any reason. A holiday which follows the last day of work will not be paid.
Group life and disability insurance will terminate on the employee’s last day of work with the College. Group health insurance will continue through the end of the month in which the retirement occurs. An employee who retires from regular employment with a .50 FTE or greater, has worked with the college for a continuous period of ten (10) years immediately prior to retirement, and is at least 59 ½ years of age, is eligible to continue coverage under the college health insurance plan at his or her own expense. The retiree, only, is eligible for coverage under the college plan, and coverage will terminate effective with the first day of the month in which the retiree is eligible for Medicare, or when the college elects to terminate all retiree coverage.
All employees leaving the employment of Central College need to have an exit interview with the Office of Human Resources.
The retiring individual is eligible to continue the use of his/her college identification card for campus events and use of the library and A.N. Kuyper Athletics Complex. Also, a retired individual is eligible for employee rates at the Spirit Shoppe.