Benefits at Retirement

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Contact

benefits@ku.edu
Phone Number

(785) 864-4946
Fax Number

(785) 864-5790

When Can I Retire?

A. KPERS retirement plan

Retiring With Full Benefits:

Age 65 with one year of service credit
Age 62 with ten years of service credit
Any age when your age and years of service credit added together equal 85 (85 points)

Retiring Early:
You can receive reduced benefits at age 55 with ten years of service, even without the 85 points. Benefits are reduced by 0.6 percent for each month you are between age 55 and 60 and 0.2 percent for each month you are between age 60 and 62

B. Kansas Board of Regents retirement plan

Under Kansas Board of Regents policy, there is no mandatory retirement age for eligible employees. For purposes of eligibility for certain statutory retirement benefits, such retirement shall not occur before the fifty-fifth birthday; provided, however, that individuals who seek to retire from age 55 to 59 must have ten years of service in a benefits-eligible position at a Regents institution or with the Board of Regents staff.

Retirement income will be determined based upon the age that distribution begins, the amount of funds available, and the income option selection.

Health Insurance

Retirees from The University of Kansas have the right to remain in the State's group health insurance program by paying the premium. Spouses and qualified dependents can also remain on the health insurance contract.

Death Benefit

Those who receive KPERS retirement benefits, also receive a $4,000 death benefit that will be paid to the named beneficiary.

Accumulated Leave - Vacation and/or Sick Leave

Lump Sum Payment will be made for accumulated vacation and/or sick leave.

Vacation Leave - University Support Staff

Annual leave will be paid, at retirement or termination of service, based upon years of service and accumulation as follows:

Year of Service	Annual Leave Days Paid
5 years	up to 22 days
10 years	up to 26 days
15 years	up to 30 days

Vacation Leave - Unclassified 12 month staff

Annual leave of up to 22 days will be paid at termination of service, and up to 30 days at retirement or upon retirement eligible termination.

Sick Leave - Faculty, Unclassified and University Support Staff

Sick leave will be paid, only at retirement or upon retirement eligible termination, based upon years of service and accumulation as follows:

Years of Service	Hours/ Days Accumulated	Hours/Days Paid
8 years	800 hours/100 days	up to 240 hours/30 days
15 years	1000 hours/125 days	up to 360 hours/45 days
25 years	1200 hours/150 days	up to 480 hours/60 days

RETIRED EMPLOYEE BENEFITS

*Benefits Provided*	*Source*	*How To Obtain*
The University of Kansas	KU Card Services	Hours: 9 am - 4 pm, M-F
Retiree Identification Card	4th Floor, Kansas Union	Phone: 864-5845
Parking Pass	Parking Services	Take KU Retiree ID card
	864-PARK	to Parking Services; $fee (for rate see Parking)
Theatre & Concert	University Theatre	Two complimentary tickets
Tickets	Crafton-Preyor Theatre	to Main Stage events
	Murphy Box Office
	864-3982
	Lied Center Box Office	One complimentary ticket
	864-ARTS	to Concert, Chamber Music,
		and New Directions Series
		and may purchase a ticket
		for spouse at the faculty-
		staff rate.
Recreational Facilities	Robinson Gymnasium	Present ID for use of
	Recreation Center	facilities and free towel
		and locker.
Library usage	University Libraries	Full library privileges
KUAC Athletic Corporation	Allen Field House	Tickets at faculty/staff rates
Sprague Apartments	KU Endowment Assoc.	Retiree apartments available
	832-7400	for lease.
KU Retirees Club	Endacott Society	Organization for retired
	864-4760	faculty, staff and spouses
Computer Services	Computer Center	E-mail accounts available
	864-0439
University Directories	University Relations	Retirees with emeritus status
		automatically included if live in
		Kansas and KC metro area;
		other retirees who live in Kansas
		and the KC metro area are
		included upon request.
Oread	University Relations	Is available on-line at
		www.oread.ku.edu. Or, to
		subscribe, call the Oread
		editor at 785/864-8660, or
		send an email to oread@ku.edu.

Working After Retirement - KPERS

Employees who retire under KPERS and return to work for The University of Kansas may have their KPERS retirement benefit impacted if the salary earned is more than the limit set by KPERS for the calendar year. If the annual salary exceeds the KPERS limit, the options regarding the KPERS retirement benefit are:

o terminate employment and continue to receive the KPERS retirement benefit

o continue employment and suspend the KPERS retirement benefit or

o revoke the retirement benefit and become a participating member of KPERS again.

As of July 1, 2006, the annual salary limit for KPERS is $20,000.

For additional information for KPERS retirees Working after Retirement, please see: http://www.kpers.org/damemos042106.htm

rev 08/07