ARTICLE 20 - RESIGNATION
AND RETIREMENT
20.1
Resignation
20.11
To resign in good standing, an employee will
give at least 2 weeks prior written notice unless Management agrees to a
shorter period of notice.
20.12
Written resignations shall be submitted to the
employee's supervisor.
20.2
Classified employees who qualify will be retired
according to state law and will participate in the various contributory
retirement plans provided by the laws of the State of Oregon.
20.21 The College shall pay the
6% PERS contribution due from each Classified
employee without deduction or
withholding of such contribution from pay.
20.3
The College shall participate in, and Classified
employees be compensated for accumulated unused sick leave in the form of
increased retirement benefits in accordance with ORS 237.153.
20.4
Early Retirement
20.41 A
full-time employee who has completed 10 consecutive years of full-time
employment with the College and who is at least 55 and not more than 61 years
of age or who has 30 years of creditable service in the state PERS, shall have
the option of an early retirement program
which will
provide the full-time employee $270 per month for a maximum period of 4 years.
Such payments will terminate at the end of the month in which the employee
reaches the age of 62 or at the end of 4 years, whichever comes first. A
full-time employee choosing this option must give written notice to the
full-time employee's supervisor at least 90 days prior to the full-time
employee’s retirement date if at all possible. The provisions of Article 20.4
shall apply only to employees hired before July 1, 1987, and will not apply to
employees hired on or after that date.
Employees who are otherwise eligible for this benefit and who are in a
part-time position as a result of layoff at the time they opt for early
retirement shall also be eligible for this benefit.
20.42 Effective
July 1, 2015 for a two-year window through June 30, 2017, an employee who has
completed 20 consecutive years of full-time employment with the College and who
meets all other requirements of the Early Retirement provision of Article 20.41
above, regardless of date of hire, shall be eligible for this benefit.
20.43
Effective July 1, 2015, an employee eligible for
the Early Retirement provisions of Article
20.41 or 20.42
above, who elects to retire prior to June 30, 2017, will be eligible to receive
as a lump sum, an amount equal to an additional $130 for each month in which
they will receive the $270 per month payment.
20.5
Employees who retire under the provisions of
this Article shall be able to participate in College group health and dental
plans, subject to approval by the insurance carriers and provided that the
employee pays the premiums.
