Welcome to the University of Louisville's Retirement Web site. If you are planning to retire soon, or if you've already retired and need help with a service or benefit, you'll find the information you need to get started here. We are here to help you make a smooth transition to your retirement years.
The University of Louisville does not have a mandatory retirement age for faculty, staff, or administrators. retirement may occur when the regular status employee either:
- Has a minimum of seven years of regular service and who is at least 60 years of age or;
- Has a minimum of seven years of service in eligible Faculty or Staff status and whose combination of age and years of regular service of not less than 80% full-time equivalent at the University is equal to or greater than 75.
For purposes of the preceding sentence, years of regular service mean calendar years or (in the case of faculty) academic years and employment on a basis of not less than 80% full-time equivalent during any part of a calendar year or (in the case of faculty) an academic year shall be counted as a full year of regular service.
Faculty and staff desiring to retire should contact the Benefits Office at least three months prior to the expected retirement date. To schedule an appointment, please call (502) 852-6258.
Faculty Phased Retirement
2-Faculty phased retirement is available to each full-time tenured faculty member who has at least 10 years of service at the University of Louisville and whose age plus years of service equals at least 70.
To apply for phased retirement, the faculty member should make the request to the Provost's office through their department chair and school or college dean. Upon recommendation from the department chair, the Dean shall evaluate each request for phased retirement for its consistency with the program's objectives and its benefits to the faculty member and the university. The Dean shall then provide the unit recommendation to the Provost. Final approval and decisions on appeals will rest with the Provost.
If approved, participants will officially retire effective at the beginning of their phased retirement period to enable them to have access to their retirement benefits. They will be re-employed for no less than 33% or no more than 50% effort yet receive the same health insurance benefits provided to full-time faculty and a retirement fund contribution proportional to the percentage of work effort. Tuition remission benefits available to full-time faculty would remain as well.
If the faculty member has 10 or more years of service and whose age plus years of service equals 70 or greater and they are younger than age 65, they receive 100% of the amount of Basic Life Insurance in force on the day prior to retirement. If they are age 65 or older, they receive a $5,000 life insurance benefit at the cost of $15.00/year.
Questions concerning the phased retirement program should be directed to the Center for Faculty Personnel at (502) 852-5301. Questions concerning benefits should be directed to the Benefits Office at (502) 852-6258.